ST. LOUIS, July 11, 2007 /PRNewswire via COMTEX/ -- Solae, a joint venture between DuPont (DD and Bunge Limited (BG) and the leading supplier of soy protein for food-based products, announced today that it has completed the acquisition of Cargill's isolated soy protein (ISP) Prolisse product line including the patented membrane technology for processing ISP. Financial terms were not disclosed.
"The combination of Solae's ISP business and Cargill's Prolisse product line is a perfect fit," says Solae President and CEO Tony Arnold. "We are committed to the soy ingredient industry and this investment will enable us to continue serving customers with quality and reliability."
Solae will transition Cargill's products and technology into an existing plant, thus ensuring reliability of supply. Both Solae and Cargill are committed to a smooth transition. Both companies will make every effort to ensure that all customers will continue to be serviced with the current level of commitment without any interruption.
"At Solae, we are excited to be a global partner in delivering innovation that improves our customers' products," says Arnold. "With this purchase, we gain new technology that will enhance our ability to take new products to market and will allow us to offer more solutions for our customers." Adding Cargill's membrane-based technology and patents to Solae's existing portfolio will enable Solae to offer a wider range of products and innovation, he said.
The Solae Company is a food innovation and ingredient manufacturing organization, providing meat, food and beverage manufacturers across the world with Better Ingredients for Better Living(TM). Headquartered in St. Louis, Missouri, USA, with annual revenue exceeding $1 billion, the company was formed through an alliance between Bunge Limited (BG) and DuPont (DD) . For more information, visit http://www.solae.com.