Cognis and WILD are joining forces to form a powerhouse of food and beverage product innovation, combining Cognis' store of ingredients with Wild's formulation expertise.
The formal agreement between the two global ingredients players takes their previously friendly relations to the next level.
Cognis' emphasis has been on the development of new ingredients. WILD, on the other hand, has built up expertise in processing technology and is one of the world's largest suppliers of natural flavourings.
"The combination of WILD's formulation expertise and Cognis' broad range of ingredients is a perfect strategic match," said Norbert Weitkemper, Cognis' director of strategic business development nutrition and health.
"As a team we will be able to develop and market new solutions effectively, and cover a wide range of consumer needs in the field of health and functional ingredients."
The companies plan to set up joint technical project teams.
The cooperation covers a selected range of functional ingredients from Cognis' nutrition and health portfolio - including Vegapure sterol esters, Tonalin CLA (conjugated linoleic acid), Xangold lutein esters and a selected range of Plantalin products - and emulsifiers and compounds.
A spokesperson for Cognis told NutraIngredients.com that joint projects are currently in the development phase, but there is no indication yet when the alliance may bear its first fruit.
The companies have said, however, that there will be "a particular focus on the beverage, nutritional bars, sweets and ice-cream industries", as well as other market segments.
In early April Cognis announced it is exploring and pursuing various strategic options "in light of an attractive market environment", and mandated investment banks Goldman Sachs and JP Morgan to assist with the review.
The spokesperson confirmed that the WILD cooperation is an entirely different initiative and forms no part of the strategic review.
"The cooperation represents another important step in Cognis Nutrition & Health' strategy of pursuing growth by serving the global wellness and health trends," he said.