- DSM to acquire Vestkorn Milling, leading producer of pea and bean ingredients for plant-based protein products, for an enterprise value of €65m.
Dutch multinational corporation Royal DSM announces today that it is to acquire Norway’s Vestkorn Milling, the leading European producer of ingredients from peas and beans, producing Textured Pea Protein, Textured Faba protein, Pea Protein, Faba Protein, Pea Fibre, Pea Starch and flours from peas and beans. The company supplies its proteins, starches and dietary fibres to makers of plant-based foods, pet food and animal feed.
The acquisition, according to DSM, is a further step in the company’s strategy to build an alternative protein business and will provide synergy with DSM’s innovative CanolaPRO™ rapeseed protein isolate, which will commercially launch next year. Subject to customary conditions, the transaction is expected to close in Q4 2021.
Patrick Niels, Executive Vice President of DSM’s Food & Beverage division, commented on the acquisition: “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, commented: “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.”