A Taste of Wellness for Savoury and Snacks
Givaudan
Hercules Inc., a world leader in hydrocolloids, announced recently an agreement with Lehman Brothers Merchant Banking Partners and Pharmacia Corp. to establish a new biogums joint venture called CP Kelco. The agreement includes the transfer of Pharmacia's biogums unit and the Hercules food gums business to CP Kelco.
The new company, with expected annual sales of about $450million, will be based in the US. Lehman Brothers will own about 72 per cent and Hercules the remaining 28 per cent.