DuPont acquires full ownership of Solae

AP News
Posted: May 01, 2012 11:04 AM
DuPont acquires full ownership of Solae

The DuPont Co. has acquired full ownership of Solae LLC, a soy ingredients producer that had been a joint venture with Bunge Ltd., an agribusiness and food company based in New York.

DuPont, which previously owned 72 percent of Solae, acquired the 28 percent stake held by Bunge for about $440 million.

DuPont Executive Vice President James Borel said Tuesday that full ownership of St. Louis-based Solae, coupled with DuPont's acquisition of Danish food ingredients company Danisco last year, boosts DuPont's position in the food ingredients business.

Bunge Chief Financial Officer Drew Burks said the deal will allow Bunge to redeploy capital into its strategic, core businesses.