DuPont Acquires Full Ownership of Solae For $440 Million

WILMINGTON, Del.DuPont has acquired full ownership of the soy ingredients maker Solae LLC joint venture from Bunge for approximately $440 million, a move that will expand DuPonts position in the food ingredients market.

The Solae joint venture was formed in 2003; DuPont previously owned 72% of the joint venture, while Bunge owned the remaining 28%.

Our customers will benefit from the full ownership of Solae as we can further increase the speed of innovation, food formulation and nutrition science capabilities across a wide range of specialty food ingredients," said DuPont Nutrition & Health President Craig F. Binetti. Our long-term segment financial targets are to post sales of 7% to 9% CAGR and expand pre-tax earnings margins to a range of 12% to 14%. With full ownership of Solae, DuPont anticipates delivering toward the upper end of our margin targets with the planned synergies."