Corbion acquires bread improver business from Novotech, bolstering Indian market strategy
The deal furthers Corbion's ongoing strategy to expand geographically, offering new opportunities for growth in regional presence and portfolio diversification. It also grants Indian bakers access to Corbion's extensive global customer support network
Corbion, a global leader in sustainable ingredient solutions, is pleased to announce it will acquire the bread improver business from Novotech Food Ingredients, based in Delhi, India. The strategic acquisition will increase Corbion’s footprint as a global functional solutions provider, and fortify its presence in the Asia Pacific region.
The transaction marks a pivotal step in Corbion’s strategy to expand within the Indian market and deliver functional solutions that cater to a broader range of customer needs and preferences. By integrating this business into its portfolio, Corbion will deliver a deeper range of solutions to its customers, thereby strengthening its market position and capacity to provide exceptional value and variety in the Indian market.
"This acquisition marks a significant strategic milestone for Corbion,” said Andy Muller, President of the company’s Functional Ingredients and Solutions division. “By enlarging our footprint, augmenting our portfolio with products tailored to local market needs, and enhancing our collaboration with India-based global customers, we’re showing our commitment to sustained growth in India and broadening our reach into Asia. Leveraging local manufacturing strengths will help reinforce our position as a global solutions provider that is regionally relevant."
The bread improver business built by Novotech is known for its high-quality, innovative solutions, making it a natural fit with Corbion’s existing portfolio. The addition of these authentic, locally developed offerings will enhance and further diversify Corbion’s product range, enabling the company to deliver a wider array of solutions to meet the needs of its global customer base.
“We want our customers to make the most of the advantages that come with a leading global supplier," said Mr. Muller. "Our worldwide network offers them the flexibility and confidence of consistent sourcing. Yet, we also know that local expertise adds significant value. This acquisition strengthens Corbion's capacity to deliver both a global approach and regional insights, ultimately providing our customers with greater value.”
For more information, please contact:
Press:
Ashley Robertson, Director, Marketing & Communications
+1 (913) 2072748
Analysts and investors:
Peter Kazius, Director Investor Relations, a.i.
+31(0)6 55409706
Background information:
Corbion is the global market leader in lactic acid and its derivatives, and a leading supplier of food preservation solutions, functional blends, and algae ingredients. We use our unique expertise in fermentation and other processes to deliver sustainable solutions for the preservation of food and food production, health, and our planet. For over 100 years, we have been uncompromising in our commitment to safety, quality, innovation, and performance. Drawing on our deep application and product knowledge, we work side by side with customers to make our cutting-edge solutions work for them. Leveraging our advanced capabilities in fermentation and preservation technology, we help customers differentiate their products in diverse markets ranging from food and animal nutrition to home and personal care, pharmaceuticals, electronics, medical devices, and bioplastics. In 2023, Corbion generated annual sales of €1,443.8 million and had a workforce of 2,727 FTEs. Corbion is listed on Euronext Amsterdam. For more information: www.corbion.com
