©Vestkorn
DSM has agreed to acquire Norwegian company Vestkorn Milling for an enterprise value of €65 million, as it looks to accelerate its growth in the plant-based protein market.
Based in Tau, Norway, Vestkorn Milling is a producer of pea- and bean-derived protein, and supplies proteins, starches and dietary fibres for plant-based foods. The acquisition is a further step in DSM’s strategy to build an alternative protein portfolio.
According to DSM, Vestkorn Milling’s portfolio complements its own broad offering to companies developing plant-based food and beverages, which includes vitamins, algal lipids and minerals to improve nutritional value; and texturizing hydrocolloid, flavours, yeast extracts and enzymes to improve protein taste and functionality.
Patrick Niels, EVP of DSM’s food and beverage division, said: “Food and beverage producers around the world are looking to partners who can offer an integrated portfolio of ingredients, expertise and solutions to help them differentiate and get to market fast”.
He continued: “This is especially important in the highly dynamic meat alternatives space, where consumer and societal expectations around authentic taste, texture and nutritional profile, as well as climate impact, are becoming more and more sophisticated”.
Aslak Lie, Vestkorn Milling’s CEO, added: “Through the cooperation with DSM we have taken a huge step towards becoming a global leader of pulse-based ingredients. Over the past years, we have significantly expanded our business and market. With DSM, we have got a long-term-oriented owner that will fuel further growth and expansion.”
The transaction, which is subject to customary conditions, is expected to close this year.
DSM recently announced it had agreed to acquire dairy-based flavouring firm First Choice Ingredients for $453 million.
© FoodBev Media Ltd 2024
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry. Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial
Your privacy We use small files known as ‘cookies’ to enhance your experience of the FoodBev website and analyse site-traffic. Read about how we use cookies or how you may control them in our updated privacy policy and cookie policy. If you continue to use this site, you consent to our use of cookies. Click the ‘OKAY‘ button at the top right of this panel to accept or click here for more information.