Cerestar-Cargill deal ups European 'grey matter'
acquisition Cerestar, citing an enhanced R&D team and expanded
product line as major advantages.
US agribusiness Cargill has confirmed the company's belief in its recent French starch acquisition Cerestar, eventually cleared by the European Commission in January 2002.
Speaking at the IFT Annual Meeting and Food Expo in California this week, Creager Simpson, head of Cargill Specialty Food & Pharma Starch Solutions-North America, told reporters that the purchase had united two strong companies in the sweeteners, starch and starch derivatives sectors and allowed Cargill to provide customers with global business solutions tailored to match their individual needs.
Simpson highlighted the wider array of products and services that the combined entity offered the food industry. "This acquisition brings to Cargill a greatly enhanced research and development team, an expanded product line and a broader global presence," he said.
According to Simpson, the Cerestar acquisition has had a direct impact on the scientific 'grey matter' behind the company - Cargill's food ingredient business in Europe has seen a 10-fold increase in its number of Ph.D. food scientists.
New products brought into the Cargill fold include an expanded line of speciality food starches, maltodextrins, polyols, dry dextrose and cyclodextrins.
"While Cerestar has long focused on specialty products, Cargill has been expanding its own specialty product lines in recent years. Cargill's new sugar, trehalose, is a good example. By combining product lines, we are giving traditional customers of both companies a much broader range of product choice," Simpson said.
In May 2002 Cerestar reported a drop in sales for the first quarter citing a poor economic environment and slow growth in the European market for starch products as contributory factors.
