CHS Inc. has signed an agreement with Solbar Industries Ltd., a leader in specialty soy proteins and soy isoflavones, to acquire 100% of the shares of Solbar. The purchase price reflects an equity value of approximately $133 million. Provided all conditions are met, the parties anticipate closing on the CHS acquisition of Solbar in the first quarter of calendar 2012.
Solbar provides soy protein ingredients to manufacturers in the meat, vegetarian, beverage, bars and crisps, confectionary, bakery, and pharmaceutical manufacturing markets. Solbar corporate offices are in Ashdod, Israel, with manufacturing and logistics facilities in Ashdod and Ashkelon, Israel; South Sioux City, Neb.; and Ningbo, China; and a sales office in Oakdale, Minn. CHS supplies energy, crop nutrients, grain, livestock feed, food, and food ingredients, along with business solutions including insurance, financial, and risk management services.