November 29/St. Paul, Minn./USAgNet -- CHS Inc. has signed an agreement with Solbar Industries Ltd to acquire 100% of the shares of Solbar. The purchase price reflects an equity value of approximately $133 million.

The parties anticipate closing on the CHS acquisition of Solbar in the first quarter of calendar 2012. Among the required conditions are the approval of the shareholders of Solbar and antitrust approvals in certain jurisdictions outside the United States.

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.

 From the November 29, 2011, Prepared Foods' Daily News.