Dutch food ingredients and confectionery company CSM is in discussions with starch company Avebe about the possible acquisition of its subsidiary Glucona, reports Dow Jones.
Operating in the Netherlands and the US, Glucona produces gluconic acid derivatives which are used as calcium and mineral enrichers in food and pharmaceuticals. The business has annual revenues of around €30 million, according to the report.
"The possible acquisition of Glucona would be an important addition to the portfolio of the CSM Biochemicals Division which, operating under the name of PURAC, is a global leader in lactic acid and lactic acid derivatives," CSM said in a statement.
CSM and Avebe said they expect negotiations on the possible takeover to take several months.