- DSM will acquire Vestkorn Milling, a leading producer of pea and bean ingredients for vegetable protein products, for an enterprise value of 65 million euros.
Dutch multinational Royal DSM announces today that it will acquire Norwegian company Vestkorn Milling, Europe’s leading producer of pea and bean ingredients, producing Textured Pea Protein, Textured Faba Protein, peas, Faba proteins, pea fibres, pea starch and pea and bean flours. The company supplies its proteins, starches and dietary fibers to manufacturers of plant-based foods, pet foods and animal feeds.
The acquisition, according to DSM, is a further step in the company’s strategy to develop an alternative protein business and will provide synergy with DSM’s innovative CanolaPRO™ rapeseed protein isolate, which will be commercialized next year. next. Subject to customary conditions, the transaction is expected to close in the fourth quarter of 2021.
Patrick Niels, Executive Vice President of DSM’s Food & Beverage Division, commented on the acquisition: “We are very excited to welcome Vestkorn Milling and its team to DSM. Increasingly, food and beverage producers around the world are looking for partners who can offer an integrated portfolio of ingredients, expertise and solutions to help them differentiate themselves and get to market quickly. This is particularly important in the very dynamic meat alternatives space, where consumer and societal expectations for authentic taste, texture and nutritional profile, as well as climate impact, are becoming increasingly more sophisticated.
Aslak Lie, CEO of Vestkorn Milling, said: “Through the cooperation with DSM, we have taken a big step towards becoming a world leader in pulse ingredients. Over the past few years, we have greatly expanded our business and market. With DSM, we have a long-term oriented owner who will fuel future growth and expansion. We are excited about this opportunity and look forward to being part of the DSM team.