Corbion is planning to buy Granotec do Brazil, a specialist in functional blends for the Brazilian bakery industry, in a deal worth USD 45 m. This acquisition is aligned with Corbion’s objectives as part of its “Creating Sustainable Growth” strategy, notes Corbion CEO, Tjerk de Ruiter, who says that part of the attraction is the company’s state-of-the-art manufacturing and R&D facilities. He believes that the move to buy the “top-three Brazilian bakery ingredient player” will provide an excellent platform for growth for Corbion’s South America bakery solutions business.

The deal is pegged as part of the company’s strategy to expand the bakery business and extend the North American bakery solution provider model into Latin America. Given that industrial bakeries are Corbion’s core customer group, de Ruiter believes that South America provides an attractive growth opportunity for the company to leverage its market-leading position in North America.