FDBusiness.com

Global science group DuPont is acquiring Danisco, the enzyme and specialty food ingredients company, for $5.8b in cash and the assumption of $500m of Danisco net debt. The deal will establish DuPont as a clear leader in industrial biotechnology with science-intensive innovations that address global challenges in food production and reduced fossil fuel consumption.

Ellen Kullman, chief executive of DuPont.

Danisco’s specialty food ingredients business, including enablers, cultures and sweeteners, generates about 65% of group sales. Genencor, its enzymes division, represents 35% of total sales. Danisco and DuPont are already joint venture partners in the development of cellulosic ethanol technology. Danisco has nearly 7,000 employees globally with operations in 23 countries.

“Danisco has attractive, market-driven science businesses that offer clear synergies with DuPont Nutrition & Health and Applied BioSciences,” says Ellen Kullman, chief executive of DuPont. “This transaction is a perfect strategic fit with our growth opportunities and will help us solve global challenges presented by dramatic population growth in the decades to come, specifically related to food and energy. In addition, biotechnology and specialty food ingredients have the potential to change the landscape of industries, such as substituting renewable materials for fossil fuel processes and addressing food needs in developing economies that will generate more sustainable solutions and create growth for the company.”

Founded in 1802 and now operating in approximately 90 countries, DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.