Cash-rich food firm swoops on Corn Products
The world’s largest oilseed processor, Bunge, is paying $4.4bn (£2.2bn) for a leading maker of food sweeteners, Corn Products, as the agricultural industry wallows in cash generated by soaring food prices.
Based in New York state, Bunge specialises in edible oils, fertilisers and milling products. Corn Products is a supplier of syrups, starches and sweeteners to food and drinks makers such as Coca-Cola, Kellogg’s and Nestle.
A combination of the two American companies will create an organisation with 32,000 staff and operations in 40 countries. The global market for sweeteners and starches is growing 5% annually.
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