Royal DSM, the global Life Sciences and Materials Sciences company, announced that it has signed agreements to acquire a 19 percent equity interest in Yantai Andre Pectin Co. Ltd. (Andre Pectin), a China-based producer of texturing ingredients.
In addition, the parties have agreed that DSM has option rights to increase its stake in Andre Pectin to a majority stake at a later stage. The agreements are subject to customary approvals and certain closing conditions, including the approval of the selling party’s shareholders. Closing is expected in Q3 2013.
Andre Pectin, headquartered in Yantai (Shandong Province, China), was established in 2003 and is active in the manufacturing and sale of apple and citrus pectin, a key food ingredient providing texture, as well as pectin related health supplements. Andre Pectin realizes annual net sales of around €30 million.