CHS to acquire soya protein firm Solbar

CHS, a US-based energy, grains and foods company, has signed an agreement to acquire Solbar, an Israeli company that manufactures specialty soya proteins and soya isoflavones, in a deal worth $133m.

The acquisition, which is subject to approval by Solbar’s shareholders and antitrust clearances in certain jurisdictions outside the US, is expected to be completed in the first quarter of 2012.

Solbar produces soya protein ingredients for manufacturers in the meat, vegetarian, beverage, bars and crisps, confectionery, bakery, and pharmaceutical segments.

It has manufacturing and logistics facilities in Ashdod and Ashkelon, Israel, in Nebraska, US, and in Ningbo, China.

CHS, a cooperative owned by farmers, ranchers and co-ops, provides food and food ingredients, energy, crop nutrients, grain, livestock feed and business solutions including insurance, financial and risk management services.