CHS announced its intent to acquire Solbar on November 23, 2011.
"The Solbar acquisition deepens our presence in the value-added soy protein market segment, and fits into CHS aspirations for business growth in food and food ingredient markets and global commodities expansion," said Mark Palmquist, CHS executive vice president and chief operating officer, Ag Business.
CHS has soybean processing, refining, and soy product manufacturing operations in Minnesota, Iowa and Kansas. Solbar operations and its approximately 400 employees will be managed through CHS Oilseed Processing in the Ag Business division.
Soy isolates, concentrates and isoflavones represent the future of the soy protein industry, providing a nutritious, less costly source of protein for human health and food markets.
Solbar chief executive officer Shaul Shelach says he is confident CHS is well-positioned to take Solbar products and operations to the next level. "Both Solbar and CHS have a strong customer focus, a commitment to quality, interest in building market share and soy product manufacturing expertise," said Shelach.
From the February 10, 2012, Prepared Foods' Daily News.