Abstract
The US-based food processor Cargill plans to acquire the bioindustrial business of the British specialty chemical maker Croda for about $1 billion. The unit makes industrial chemicals including antistatic, antifog, and slip agents for polymers, and friction-reducing additives for engine oils. It also makes building blocks for polymers that improve flexibility and water repellency in coatings, adhesives, and sealants. About two-thirds of the raw materials for those products are biobased and renewable. In October, Cargill bought Arkema’s epoxidized vegetable oil business for $39 million. Last year, Cargill launched a joint venture to make biobased 1,4-butanediol , and its joint venture NatureWorks has been making biobased polylactic acid for decades. Croda says canola oil is the most common feedstock for its bioindustrial products. Cargill is a major vegetable oil producer, with two canola processing plants and a third slated to open in 2024. The deal includes five Croda plants in Europe
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