US agribusiness Bunge continues on the road to expansion with the news that it is to acquire Hindustan Lever's edible oils and fats businesses from Anglo Dutch giant Unilever.
Based in Bangalore, India, the 51 per cent-owned subsidiary of Unilever is India's market leader in branded hydrogenated vegetable fats marketed under the brand name 'Dalda' and a market leader in bakery fats marketed under the 'Masterline' brands.
According to a statement from the two companies this week, sales in 2002 for the Indian oils and fats businesses were approximately $79.9 million. The acquisition is subject to customary closing conditions but is expected to close in the third quarter of 2003.
In April this year privately-owned Bunge acquired the French oil processor Cereol. In the same month, Bunge announced the launch of Solae, a new plant-based ingredients company established with the support of Bunge and DuPont Protein Technologies.