DuPont announced that the company has acquired from Bunge full ownership of the Solae, LLC joint venture, a soy-based ingredients leader. DuPont previously owned 72% of the joint venture while Bunge owned the remaining 28%.
DuPont was committed to nutrition and health. This investment in Solae, along with the acquisition of Danisco last year, had significantly added to their leadership position in food ingredients, DuPont Executive Vice President James C. Borel stated and addet that Solae's scientific expertise and market leadership in soy was a critical element in their plans to enhance the quality and quantity of food for a growing global population.
DuPont Nutrition & Health President Craig F. Binetti said that their long-term segment financial targets were to post sales of 7-9% Compound Annual Growth Rate (CAGR) and expand pre-tax earnings margins to a range of 12-14%. With full ownership of Solae, DuPont anticipates delivering toward the upper end of their margin targets with the planned synergies.