PHILADELPHIA, Oct. 26, 2011 /PRNewswire/ -- FMC Corporation (NYSE: FMC) announced today that it has entered into a definitive agreement to acquire South Pole Biogroup Ltda., a Chilean-based natural color and specialty nutrition ingredients manufacturer. The acquisition further expands FMC's portfolio of naturally sourced specialty products used in the food, beverage, personal care, nutrition and pharmaceutical markets.
"South Pole Biogroup is an innovation leader in the natural color and health ingredients industry," said Mike Smith, division general manager, FMC BioPolymer. "This transaction brings a remarkable portfolio of natural color formulation, product application expertise, and ingredient extraction capabilities to FMC customers and partners around the world."
The natural color market is expected to grow beyond $1 billion in the next four years as consumer preference for nature-derived food colors and ingredients and overall health and nutrition continues to increase in mature and emerging markets.
"FMC has been a global leader in food ingredient technology for more than 50 years," Smith added. "The acquisition of South Pole Biogroup and its franchise businesses—BioColor and BioNutrition—opens exciting new platform opportunities in natural colorants and functional ingredients for FMC BioPolymer. And it's another critical step in FMC's Vision 2015 growth strategy."
FMC expects to close the acquisition before year end. Terms of the transaction were not disclosed.
About South Pole Biogroup
South Pole Biogroup Ltda. is a leading South American natural color and health ingredient producer that operates the BioColor and BioNutrition businesses with extensive expertise in extracting specialty components from natural raw materials for various consumer applications. The company's sales are to regional and global customers within the food, beverage, personal care and nutrition sectors. Its headquarters, manufacturing and technical facility are located in Santiago, Chile.
About FMC Corporation
FMC Corporation is a diversified chemical company serving agricultural, industrial and consumer markets globally for more than a century with innovative solutions, applications and quality products. In 2010, FMC had annual sales of approximately $3.1 billion. The company employs approximately 5,000 people throughout the world, and operates its businesses in three segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals. For more information, visit www.FMC.com.
Safe Harbor Statement under the Private Securities Act of 1995: Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning specific factors described in FMC Corporation's 2010 Form 10-K and other SEC filings. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. FMC Corporation does not intend to update this information and disclaims any legal obligation to the contrary. Historical information is not necessarily indicative of future performance.
SOURCE FMC Corporation