Dutch food and biochemicals company Corbion has unveiled its plans to acquire the bread improver business of Novotech Food Ingredients, an India-based food processing company.
Corbion said the proposed acquisition would enhance its footprint as a global functional solutions provider and strengthen its presence in the Asia Pacific region.
Also, the acquisition is expected to expand within the Indian market and deliver functional solutions that cater to a broader range of customer needs and preferences.
By integrating Novotech’s business into its portfolio, Corbion aims to provide a wide range of solutions to its customers.
In addition, the Dutch food company aims to strengthen its market position and capacity to provide enhanced value in the Indian market.
Corbion functional ingredients and solutions division president Andy Muller said: “By enlarging our footprint, augmenting our portfolio with products tailored to local market needs, and enhancing our collaboration with India-based global customers, we’re showing our commitment to sustained growth in India and broadening our reach into Asia.
“Leveraging local manufacturing strengths will help reinforce our position as a global solutions provider that is regionally relevant.”
Corbion believes that the bread improver business of Novotech better matches its existing portfolio, based on its capability to offer high-quality, innovative solutions.
The addition of new authentic, locally developed offerings will enhance and further diversify its product range, to provide a wide variety of solutions, said the Dutch food company.
Corbion provides lactic acid and its derivatives and supplies food preservation solutions, functional blends, and algae ingredients, and has generated €1.44bn in sales, last year.
The company leverages its unique expertise in fermentation and other processes to deliver sustainable solutions for the preservation of food, food production, and health, among others.
Muller added: “We want our customers to make the most of the advantages that come with a leading global supplier. Our worldwide network offers them the flexibility and confidence of consistent sourcing.
“Yet, we also know that local expertise adds significant value. This acquisition strengthens Corbion’s capacity to deliver both a global approach and regional insights, ultimately providing our customers with greater value.”
