AMSTERDAM — Corbion announced it has signed a binding agreement with Kingswood Capital Management, a middle-market private equity firm with experience in food and beverage investments and carve-outs, regarding the sale of the ingredient supplier’s emulsifiers business for $362 million cash.
“Kingswood is excited to take this world-class emulsifiers business forward and build on its tremendous heritage by continuing to provide best-in-class service,” said Alex Wolf, managing partner at Kingswood. “We are delighted to partner with Corbion in creating the largest standalone pure-play emulsifiers business in North America.”
The transaction includes two US manufacturing facilities and nearly 175 employees along with other conveying assets.
“Corbion takes immense pride in its heritage as a pioneer and leader in the emulsifier industry, and we appreciate the dedicated employees and loyal customers who contributed to this successful chapter in our history,” said Andy Muller, president of sustainable food solutions at Corbion.
The sale will grant Corbion the ability to hone in on fermentation-based technologies and follow the company’s Advance 2025 strategy.
“Caring about the welfare of both our customers and our employees has always been part of building a premium emulsifiers business at Corbion, so that was very much on our minds when looking at potential new owners,” Muller continued. “We believe this deal matches our customers and employees with the right partners and leadership to help take them even further.”
Corbion and Kingswood will work together to ensure a smooth transition. The transaction is expected to close this year during Q2.
“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, CEO of Corbion. “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.”
