Bunge acquires significant stake in IOI Loders Croklaan

Global agribusiness and food company Bunge has acquired 70% ownership interest in the Netherlands-based oils and fats producing firm IOI Loders Croklaan (Loders) from IOI Corporation Berhad (IOI).

Financial details of the deal have not been disclosed by both the companies.

By acquiring a significant interest in Loders, Bunge intends to further strengthen its presence in the global market and establish itself as a business-to-business (B2B) oil solutions provider with value-added capabilities.

Bunge chief executive officer Soren Schroder said: “This is a transformational acquisition that increases our value-added food and ingredients activities to the 35%-40% share of our portfolio we’ve targeted.

“With a comprehensive product offering derived from seed and tropical oils, leading innovation and application capabilities, and world-class sustainability programmes, Bunge Loders Croklaan will be the first choice for global edible oils customers seeking to innovate and grow.”

The acquisition will see Loders operate within Bunge’s food and ingredients business as ‘Bunge Loders Croklaan’.

Through Loders, Bunge intends to offer a wide-range of products to its B2B customers from various industrial sectors, including food processing, confectionery, food service, human nutrition, industrial, and artisanal bakery segments.

Bunge Food and Ingredients president Gordon Hardie said: “We’re excited to leverage the combination of Bunge’s integrated supply chain and existing oils portfolio with Loders’ high-end speciality and semi-speciality products to help our customers grow their brands and businesses around the world.

“We’re also excited to begin working alongside our new colleagues, whose deep market and technical knowledge will benefit our continuing development of a wide range of edible oils applications aligned with consumer trends and customers’ needs.”