Corbion acquires bread improver business from Novotech, bolstering Indian market strategy
August 07, 2024 02:00 ET
| Source: Corbion
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DATE August 05, 2024
Corbion acquires bread improver business from Novotech, bolstering Indian market strategy
The deal furthers Corbion's ongoing strategy to expand geographically, offering new opportunities for growth in regional presence and portfolio diversification. It also grants Indian bakers access to Corbion's extensive global customer support network
Corbion, a global leader in sustainable ingredient solutions, is pleased to announce it will acquire the bread improver business from Novotech Food Ingredients, based in Delhi, India. The strategic acquisition will increase Corbion’s footprint as a global functional solutions provider, and fortify its presence in the Asia Pacific region.
The transaction marks a pivotal step in Corbion’s strategy to expand within the Indian market and deliver functional solutions that cater to a broader range of customer needs and preferences. By integrating this business into its portfolio, Corbion will deliver a deeper range of solutions to its customers, thereby strengthening its market position and capacity to provide exceptional value and variety in the Indian market.
"This acquisition marks a significant strategic milestone for Corbion,” said Andy Muller, President of the company’s Functional Ingredients and Solutions division. “By enlarging our footprint, augmenting our portfolio with products tailored to local market needs, and enhancing our collaboration with India-based global customers, we’re showing our commitment to sustained growth in India and broadening our reach into Asia. Leveraging local manufacturing strengths will help reinforce our position as a global solutions provider that is regionally relevant."
The bread improver business built by Novotech is known for its high-quality, innovative solutions, making it a natural fit with Corbion’s existing portfolio. The addition of these authentic, locally developed offerings will enhance and further diversify Corbion’s product range, enabling the company to deliver a wider array of solutions to meet the needs of its global customer base.
“We want our customers to make the most of the advantages that come with a leading global supplier," said Mr. Muller. "Our worldwide network offers them the flexibility and confidence of consistent sourcing. Yet, we also know that local expertise adds significant value. This acquisition strengthens Corbion's capacity to deliver both a global approach and regional insights, ultimately providing our customers with greater value.”
For more information, please contact:
Press:
Ashley Robertson, Director, Marketing & Communications