Corn Products completes SPI Polyols acquisition
February 13, 2007
by Eric Schroeder
WESTCHESTER, ILL. — Corn Products International, Inc. on Monday completed the acquisition of the food business of SPI Polyols, a subsidiary of ABF North America Holdings, Inc., and the shares of an SPI unit that holds the 50% interest in a Brazilian polyols joint venture, Getec Guanabara Quimica Industrial S.A. Terms of the acquisition, first announced in early January, were not disclosed.
The food business of SPI Polyols, based in New Castle, Del., makes and markets specialty polyols, including crystalline sorbitol, crystalline maltitol, mannitol, specialty liquid polyols and liquid sorbitol for the food, beverage and confectionery markets, as well as the industrial, personal and oral care and nutritional supplement markets.
Getec is a major Brazilian maker of polyols, including liquid sorbitol and mannitol, and anhydrous dextrose for the food, candy and confectionery industries as well as the personal care and pharmaceutical markets. Corn Products in September 2006 increased its ownership of Getec to 50% from 20%.
The SPI Polyols business is a major ingredient unit of ABF North America Holdings, Inc., part of U.K.-based Associated British Foods, P.L.C.
Other A.B.F. businesses in North America include AB Enzymes, a producer and marketer of enzymes for food, feed and industrial uses; ABITEC Corp., a maker of emulsifiers and specialty chemicals; PGP International, a supplier of grain-based extruded ingredients; and Protient, a marketer of whey, milk and soy protein isolates.