The purchase price reflects an equity value of approximately $133m. Provided all conditions are met, the parties anticipate closing on the CHS acquisition of Solbar in the first quarter of calendar 2012. Among the required conditions are the approval of the shareholders of Solbar and antitrust approvals in certain jurisdictions outside the US.
Solbar provides soy protein ingredients to manufacturers in the meat, vegetarian, beverage, bars and crisps, confectionary, bakery, and pharmaceutical manufacturing markets. Solbar corporate offices are in Ashdod, Israel, with manufacturing and logistics facilities in Ashdod and Ashkelon, Israel, South Sioux City, Nebraska and Ningbo, China and a sales office in Oakdale, Minn.
Source: CHS
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