DSM to acquire plant-based ingredient producer Vestkorn Milling
Tuesday, November 30, 2021
Royal DSM acquired Norwegian company Vestkorn Milling, one of Europe’s leading producers of pea- and bean-derived ingredients for plant-based protein products, for an enterprise value of €65 million.
Vestkorn Milling is well-positioned in the buoyant alternative protein market, supplying proteins, starches and dietary fibers for plant-based foods, pet food and animal feed. The company has 55 employees and is based in Tau on the southwest coast of Norway.
Patrick Niels, executive vice president of DSM’s Food & Beverage division, said, “we very much look forward to welcoming Vestkorn Milling and their team to DSM. Increasingly, food and beverage producers around the world are looking to 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.”
Aslak Lie, CEO of Vestkorn Milling, added that “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.”
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