DuPont to Acquire Danisco for $6.3 Billion

12-Jan-2011 - Denmark

DuPont recently announced it had entered into a definitive agreement for the acquisition of Danisco for $5.8 billion in cash and assumption of $500 million of Danisco net debt.

“Danisco is a premier company, a long-time successful partner of DuPont and a proven innovator committed to sustainable growth,” said DuPont Chair and CEO Ellen Kullman.  “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,” Ellen said.

The acquisition is expected to be financed with about $3 billion in existing cash and the remainder in debt.  The transaction is expected to close early in the second quarter.

“Danisco has two well-positioned global businesses that strongly complement our current biotechnology capabilities, R&D pipeline, and specialty food ingredients, a combination that offers attractive long-term financial returns.  This also would create new opportunities across other parts of the DuPont portfolio, including traditional materials science offerings,” Ellen said.

Other news from the department business & finance

Most read news

More news from our other portals

Discover the latest developments in battery technology!