U.S. agricultural commodities trader Cargill Inc said Tuesday it has signed a deal to acquire NatureWax, an Illinois-based producer of vegetable oil-based waxes used to make candles.
The deal is expected to close at a later date, a Cargill spokesman said, but terms of the deal were not disclosed.
Vegetable oil-based wax, an alternative to petroleum-based products, burns longer and cleaner and is easier to infuse with fragrances, Cargill said in a release. Cargill is among the world’s biggest vegetable oil producers and traders.
Cargill previously owned NatureWax from the late 1990s until 2007, when it was sold to the current owner Elevance Renewable Sciences, Inc.
The 151-year-old grain trader has recently been refocusing its operations by exiting lower-margin businesses and expanding deeper into higher-margin endeavors like food ingredients and aquaculture to capitalize on consumer trends such as simpler ingredient labels and bio-based products.
By Karl Plume
Source: Reuters
Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.
US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.
Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.