DuPont to Acquire Danisco

DuPont (Wilmington, Delaware) has entered into an agreement to acquire specialty food ingredient and enzyme company Danisco (Copenhagen) for $5.8 billion in cash and the assumption of $500 million of Danisco’s debt. The move helps boost DuPont to a distinct leadership role in the food technology industry. Of the acquisition, DuPont chair and CEO Ellen Kullman stated, "Danisco is a premier company, a long-time successful partner of DuPont and a proven innovator committed to sustainable growth. Danisco has attractive, market-driven science businesses that offer clear synergies with DuPont Nutrition & Health and Applied BioSciences. This transaction is a perfect strategic fit with our growth opportunities and will help us solve global challenges presented by dramatic population growth in the decades to come, specifically related to food and energy. In addition, biotechnology and specialty food ingredients have the potential to change the landscape of industries, such as substituting renewable materials for fossil fuel processes and addressing food needs in developing economies that will generate more sustainable solutions and create growth for the company.” The transaction, which is subject to customary closing conditions, is expected to close in the second quarter.