Cargill acquires Sorini

Cargill has completed its acquisition of a majority stake in PT Sorini Agro Asia Corporindo Tbk ('Sorini'), first announced on 15 December 2010. Cargill now owns 85.01% of Sorini's ordinary shares.

With the completion of this transaction, Sorini becomes a subsidiary of Cargill. KL Chopra, President Director of Sorini, will continue to lead the business.

"We are excited to be a part of Cargill and by the opportunities accorded to our customers and employees by this transaction," said Chopra. "The combined capabilities and talents of Cargill and Sorini will enable us to better serve customers in Indonesia, Southeast Asia and other markets."

"The rise of major new consumer groups in emerging markets constitutes one of the largest opportunities for Cargill's food ingredients business," said Bram Klaeijsen, President and Regional Director, Cargill Asia Pacific. "Core ingredients like starches and sweeteners as well as fats and oils play an important role in this regard, and are a focus of our customers who are expanding their presence in emerging markets. The acquisition of Sorini allows us to tap into these opportunities."