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DSM to Buy Plant-Based Protein Ingredients Maker for $73M

Image courtesy of Royal DSM Screen Shot 2021-09-10 at 12.16.18 PM.png
The acquisition of the ingredients supplier strengthens DSM’s alternative proteins business and expands its portfolio.

Health and nutrition solutions firm Royal DSM revealed Monday that it inked an agreement to purchase Norway-based plant-based protein ingredients manufacturer Vestkorn Milling for an enterprise value of €65 million (about $73 million).

“We very much look forward to welcoming Vestkorn Milling and their team to DSM,” said Patrick Niels, executive vice president of DSM’s Food & Beverage division, said in a company release. “Increasingly, food and beverage producers around the world are looking to partners who can offer an integrated portfolio of ingredients, expertise, and solutions to help them differentiate and get to market fast. This is especially important in the highly dynamic meat alternatives space, where consumer and societal expectations around authentic taste, texture, and nutritional profile, as well as climate impact, are becoming more and more sophisticated.”

Vestkorn produces proteins, starches, and dietary fibers for use in plant-based foods, animal feed, and pet foods. DSM said the firm’s portfolio compliments its existing range of offerings for makers of plant-based foods and beverages, including vitamins and minerals, texturizing hydrocolloids, yeast extracts, enzymes, and flavors. The acquisition also tees into DSM’s strategy to strengthen its alternative protein business.

“Through the cooperation with DSM we have taken a huge step towards becoming a global leader of pulse-based ingredients. Over the past years we have significantly expanded our business and market,” Vestkorn CEO Aslak Lie said in a statement. “With DSM, we have got a long-term oriented owner that will fuel further growth and expansion. We are thrilled by this opportunity, and we look forward to being a part of the DSM team.”

The parties expect the deal to wrap up in the fourth quarter of 2021.

Powder & Bulk Solids reported in September that DSM announced plans to acquire dairy-based savory flavorings manufacturer First Choice Ingredients for $453 million. The acquisition will include three manufacturing sites located near First Choice’s headquarters in Germantown, WI. First Choice ferments and blends natural dairy products with enzymes and cultures to produce clean label solutions that offer sensory and functional benefits. The company works with food producers, flavor houses, and food service suppliers across a wide range of applications, including soups, snacks, sauces, sweet baking, plant-based meat and dairy alternatives, and salad dressings.

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