CHS completes acquisition of soy protein provider
Feb. 9, 2012
by Eric Schroeder
ST. PAUL, MINN. — CHS has completed its acquisition of Solbar, a provider of specialty soy proteins and soy isoflavones to manufacturers in the meat, vegetarian, beverage, bars and crisps, confectionary, bakery, and pharmaceutical manufacturing markets. Based in Ashdod, Israel, Solber has manufacturing and logistics facilities in Ashdod and Ashkelon, Israel; South Sioux City, Neb.; and Ningbo, China; and a sales office in Oakdale, Minn.
Financial details of the transaction, which was first announced on Nov. 23, 2011, were not disclosed.
“The Solbar acquisition deepens our presence in the value-added soy protein market segment and fits into CHS aspirations for business growth in food and food ingredient markets and global commodities expansion,” said Mark Palmquist, executive vice-president and chief operating officer of CHS’ Ag Business.
CHS has soybean processing, refining, and soy product manufacturing operations in Minnesota, Iowa, and Kansas. The company said Solbar’s operations and its approximately 400 employees will be managed through CHS Oilseed Processing in the Ag Business division.