AMSTERDAM — Corbion, a global ingredient supplier, has completed the divestiture of its emulsifier business, which was announced earlier this year. Private equity firm Kingswood Capital Management acquired the business for $362 million, with expected net cash proceeds of approximately $275 million post-tax and transaction costs.

“We are confident that the emulsifier business will be in good hands under Kingswood’s stewardship and will receive strong support from their new owners,” said Olivier Rigaud, Corbion’s CEO. “I want to thank our colleagues who have worked hard to develop our emulsifier business for many years, and we wish them great success in the years ahead.”

The transaction includes two US-based manufacturing plants and about 175 employees. The two companies will work together on a smooth transition to ensure customers continue to experience a high level of service.