DSM strengthens its alternative protein business strategy with the completion of Vestkorn Milling acquisition

(PRESS RELEASE) HEERLEN, 17-Dec-2021 — /EuropaWire/ — Royal DSM (AMS: DSM), a global science-based company in Nutrition, Health and Sustainable Living, has announced the completion of the acquisition of Vestkorn Milling, a leading European producer of ingredients from peas and beans, for a EUR 65 million enterprise value. Originally announced on 29 November 2021, the deal is for Europe’s leading producers of pea- and bean-derived ingredients for plant-based protein products.

Vestkorn Milling supplies the buoyant alternative protein market with proteins, starches and dietary fibers for plant-based foods, pet food and animal feed. These are highly complementary to DSM’s broad offering to plant-based food and beverage companies, which includes vitamins, algal lipids and minerals that improve nutritional value; texturizing hydrocolloids; and flavors and yeast extracts as well as enzymes that improve protein taste and functionality.

The acquisition is a further step in DSM’s strategy to build an alternative protein business and will provide synergy with DSM’s innovative CanolaPRO™ rapeseed protein isolate, which will commercially launch next year.

DSM
Royal DSM is a global, purpose-led company in Health, Nutrition & Bioscience, applying science to improve the health of people, animals and the planet. DSM’s purpose is to create brighter lives for all. DSM’s products and solutions address some of the world’s biggest challenges while simultaneously creating economic, environmental and societal value for all its stakeholders – customers, employees, shareholders, and society at large. DSM and its associated companies employ approximately 23,000 people around the world and deliver annual net sales of about €10 billion. The company was founded in 1902 and is listed on Euronext Amsterdam.

Media contacts:

Gareth Mead
DSM Media relations
+31 (0) 45 578 2420

Dave Huizing
Vice-President Investor Relations
+31 (0) 45 578 2864

SOURCE: DSM