French firm Mane is to take control of Cargill’s compounds business, the pair have announced.
The business, which specialised in blends of functional ingredients, had been part of Cargill’s texturising portfolio.
Mane said the buy, the cost of which remains confidential, will help it strengthen its footprint in technology compounds for the meat processing industry, while Cargill has said it will enable its texturising solutions business to “sharpen focus on core business”.
Cargill told us it expected the acquisition to see Mane take control of the division "in the coming weeks".
The deal includes a plant in Rubi, Spain. Mane said Cargill had “developed an advanced position in the segment of technology compounds for the meat processing industry in Spain and other large meat markets in Europe”.
Mane said it already had a strong position in the meat processing industry in France, while it also had bases in Argentina, Brazil, Chile, Colombia, Mexico and the US.
The firm said its new purchase would operate under the umbrella of Mane Iberica, and would help strengthen its European position.
In 2012 Cargill sold its enzymes and cultures business in a cash deal worth €85m to Royal DSM. At the time it said the move was part of its strategy to refocus and concentrate on core product lines.
A spokesperson for Cargill told FoodNavigator that the focus of its texturizing solutions business was ingredients that link the "core food building blocks" like proteins, lipids, carbohydrates and water to finished food and beverages.
"The nature-derived portfolio comprises ingredients from major crop extracts (starches, soy proteins, lecithins), seaweed extracts (carrageenans, alginates) and fruit extracts (pectin, locust bean gum) and sugar fermentation (xanthan gum)," the company said.
Mane is a fragrances and flavours firm working with the meat industry in Europe, the Middle East and Africa through its Meat Pro arm.