orbion, the Netherlands-based global food ingredients company that took over the algal food portfolio of TerraVia last year, has announced that it is in discussions with Bunge Limited regarding the potential acquisition by Corbion of Bunge’s stake in the SB Renewable Oils joint venture.
SB Oils, the former joint venture of TerraVia and Bunge, produced Algae Butter among other food products, developed by AlgaVia (formerly Solazyme) that were marketed in the U.S. by Bunge North America.
Bunge has disclosed these discussions, as part of a strategic update alongside the release of its year-end 2017 financial results.
Corbion and Bunge are currently 50.1%/49.9% partners in SB Renewable Oils, a joint venture that operates a facility in Brazil, specializing in the production of algae ingredients, such as Omega-3 rich oil, for aquaculture and animal feed.
Corbion has over 100 years of activity in markets including food, home & personal care, animal nutrition, pharmaceuticals, medical devices, and bioplastics. In 2016, Corbion generated annual sales of € 911.3 million and had a workforce of 1,684 FTE. Corbion is listed on Euronext Amsterdam.
Bunge Limited, a global agribusiness and food company operating in over 40 countries, with approximately 32,000 employees, buys, sells, stores and transports oilseeds and grains; and processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers. The company was founded in 1818, and is headquartered in White Plains, New York.
While the companies disclose that the discussions are constructive, it is uncertain if and when they will lead to an agreement.