Corbion and Kingswood Capital Management announce agreement in divestiture of emulsifiers business
26 Gennaio 2024 - 7:02AM
Corbion and Kingswood Capital Management announce agreement in
divestiture of emulsifiers business
Corbion and Kingswood Capital Management announce agreement in
divestiture of emulsifiers business
Corbion, a leading global ingredient solutions provider,
and Kingswood Capital Management, LP (“Kingswood”), a middle-market
private equity firm with significant experience in corporate
carve-outs and investments related to food and beverage, have
signed a binding agreement regarding the sale of Corbion's
emulsifiers business. The sale, which is contingent upon the
satisfaction of certain conditions, including regulatory approvals,
will allow Corbion to sharpen its focus on fermentation-based
technologies while providing customers and stakeholders of the
emulsifiers business a trusted partner in navigating corporate
divestitures.
Based in Los Angeles, Kingswood will acquire the emulsifier
business from Corbion for a cash purchase price of $362M, with
expected net cash proceeds of approximately $275M, post tax and
transaction costs. The transaction comprises, amongst other
conveying assets, two US-based manufacturing plants and c.175
employees. Corbion and Kingswood will work together, with supply
and service agreements in place, to enable a smooth transition and
to ensure that customers continue to experience a high level of
service. The transaction is expected to close in the second quarter
of this year.
- Press Release Emulsifier divestment 20240125
Grafico Azioni Corbion N.V (EU:CRBN)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Corbion N.V (EU:CRBN)
Storico
Da Gen 2024 a Gen 2025
