Major science company DuPont is now in the food business. The company announced this week the purchase of a Danish specialty-food ingredient and enzyme company for almost $6 billion.
A DuPont representative said the multibillion-dollar purchase of Danisco will make it a clear leader in industrial biotechnology especially in the areas of food production and alternative fuels.
He said the company is excited about moving forward to develop new and better ways to cut reliance on fossil fuels and address food needs in developing economies as well as in the US.
Craig Binetti, president of DuPont Nutrition & Health and DuPont Applied BioSciences, said needs around health and wellness is a growing trend. “Specially food ingredients can provide solutions that are science based towards improving health, cardiovascular health, obesity, digestive health as well as basic nutrition,” he said.
Binetti said the “mega” company will create ingredients such as probiotics and soy protein, as well as ingredients to extend the shelf life of products.
Binetti also said acquisition will allow DuPont to be become a major player in developing renewable materials and turning them into products. He said the transaction is a perfect fit for growth.
“We have very strong capabilities in metabolic engineering, biomass production and production agriculture,” he said. “They’re bringing along enzymes and fermentation capabilities so it’s a good combination of strengths between both companies in the area of biotechnology.”
The two companies have previously had a long partnership. They are in the process of developing cost-effective ethanol by fermenting sugars in corn.