Image credits: Royal DSM
Royal DSM, a Dutch science-based company, has inked a deal to acquire Norwegian company Vestkorn Milling for an enterprise value of €65M.
Based out of Tau, Norway, Vestkorn Milling is a producer of pea- and bean-derived ingredients for plant-based protein products. Currently, the company has 55 employees.
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The company is well-positioned in the buoyant alternative protein market, supplying proteins, starches, and dietary fibers for plant-based foods, pet food, and animal feed.
Aslak Lie, CEO of Vestkorn Milling, says, “Through the cooperation with DSM we have taken a huge step towards becoming a global leader of pulse-based ingredients. Over the past years, we have significantly expanded our business and market. With DSM, we have got a long-term oriented owner that will fuel further growth and expansion. We are thrilled by this opportunity, and we look forward to being a part of the DSM team.”
Vestkorn Milling’s proteins, starches, and dietary fibers are highly complementary to DSM’s broad offering to companies developing plant-based food and beverages, according to DSM.
The acquisition will boost DSM’s Food System Commitments goal of reaching 150M people with delicious, nutritious, and sustainable plant-based protein foods by 2030.
Patrick Niels, Executive Vice President of DSM’s Food & Beverage division, says, “We very much look forward to welcoming Vestkorn Milling and their 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 and get to market fast. This is especially important in the highly dynamic meat alternatives space, where consumer and societal expectations around authentic taste, texture, and nutritional profile, as well as climate impact, are becoming more and more sophisticated.”
Royal DSM aims to deliver innovative business solutions for human nutrition, animal nutrition, personal care and aroma, medical devices, green products and applications, and new mobility and connectivity.
Acquisitions in 2021
In October, the company acquired First Choice Ingredients, a supplier of dairy-based savoury flavourings for an enterprise value of $453M.
The company ferments and blends numerous natural dairy products to develop the clean label, dairy, and dairy-based savoury flavourings for taste and functional solutions.
In July, Royal DSM acquired Midori, a biotech startup that develops breakthrough targeted eubiotics to improve the health and environmental impact of animals.
In March, the company acquired Flavor and Fragrance (F&F), a bio-based intermediates business of Amyris, which extends DSM’s offerings in Aroma Ingredients with bio-based ingredients for the flavour, and fragrance and cosmetics industries.
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