Rhodia sells brewing enzymes business

- Last updated on GMT

Related tags: Investment, Enzyme, Rhodia

Rhodia is to sell its UK-based brewing and enzymes businesses to US
biotech company Genencor International in a bid to focus on food
additives.

French chemicals company Rhodia is to sell its UK-based brewing and enzymes businesses to US biotech company Genencor International in a bid to strengthen its focus on food additives.

Rhodia Food, which supplies additives to the dairy, desserts, beverages and nutraceuticals sectors, said enzyme production is not a core technology for the unit.

"This transaction will enable Rhodia to further exceed the target announced at the beginning of 2002 to generate a total of €500 million from divestitures,"​ said the company in a statement.

The divestment is part of the current Rhodia strategy to realign its portfolio and develop 'value-added' solutions for customers.

The brewing and enzymes production generated sales of around €17 million in 2001 which included a significant distribution business for Genencor, said Rhodia.

Last week the company also announced that it has sold its European industrial and commercial activities related to basic chemicals to Bain Capital, a private investment firm. In November, the companies signed an agreement to divest these non-core chemical intermediates - including phenol, hydrochloric acid and soda ash.

Rhodia​ generated net sales of €7.2 billion in 2001.

Related topics: Ingredients

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