Corbion acquires TerraVia (Ex-Solazyme)

The company specializes in Corbion, lactic acid and derivatives, recently announced the acquisition of all the assets of TerraVia (Ex-Solazyme), which will result in expanding your portfolio of products, including specialty derived from microalgae.
The Corbion paid for the transaction about $ $20 million, but expects total investments exceeding the purchase price, since the activities of TerraVia are operating "in the Red". However, it is expected that the acquisition offers the potential for value creation in the market of renewable raw materials for industry, mainly in the markets of customized oils for food, personal care and industrial applications.
The TerraVia has a P&D Center and pilot installation in San Francisco, a demonstration plant in Peoria, Illinois, and an industrial-scale plant in Brazil in joint venture (50.1% of TerraVia) with the Bunge. As co-owner of the joint venture SB Oils in Brazil, from acquisition to ensure half the debt also Corbion pending $ $45 million of the JV.
Will follow the strategies of Corbion post acquisition of this business.