DuPont buys Danisco, no changes expected for cellulosic project

Ethanol Producer Magazine
By Kris Bevill January 10, 2011

Global science-based products and services company DuPont says it will pay nearly $6 billion to acquire enzyme and specialty food ingredient manufacturer Danisco. The purchase agreement, announced by DuPont Jan. 9, is expected to close in the second quarter. DuPont has agreed to pay Danisco $5.8 billion in cash and assume $500 million of its net debt. DuPont will provide approximately $3 billion of the acquisition with existing cash. The company will finance the remainder of the purchase, it said.

DuPont said the acquisition of Danisco will establish it as a leader in industrial biotechnology, particularly in the areas of food production and alternative fuels. “Biotechnology and specialty food ingredients have the potential to change the landscape of industries, such as substituting renewable materials for fossil fuel processes and addressing food needs in developing economies, that will generate more sustainable solutions and create growth for the company,” DuPont CEO Ellen Kullman said.

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