Danish ingredients and packaging supplier Danisco is to buy US rival Cultor. An offer of r1.3 billion will be formally tendered this month.
In a statement, Danisco said the vision behind the new group is to establish a Nordic-based supplier to three core sectors: ingredients, sweeteners and flexible packaging. The new group’s sales will initially be around r4 billion and earnings per share are forecast to rise above current levels within four years.
The company will operate from Copenhagen as Danisco A/S with the ingredients division known as Danisco-Cultor. Executive personnel will be drawn from both firms.