Tereos & Cornelius Nordic ink Scandinavian partnership
The deal involves Tereos Starch & Sweeteners Europe - the cereal division of the third largest sugar producer in the world - and Cornelius Nordic, the newly launched subsidiary of the British Cornelius Group, which manufactures and distributes speciality chemicals, raw materials and ingredients for the food industry.
The two companies entered into talks during Food Ingredients Europe in December last year but the partnership was inked last week when Tereos’ previous partnership with Danish firm R2 Group came to an end.
Cornelius will manage the distribution of Tereos products derived from cereal grains, maize, wheat and potato which are used to manufacture its portfolio including ingredients such as native starches, glucose syrups, dextrose, maltodextrines and polyols for Denmark and Sweden.
Director for health and nutrition at Cornelius Group Europe, Per Rehne, told FoodNavigator the partnership was in line with Cornelius Nordic’s vision for the region. "Cornelius Group’s ambitions are to become an important privately owned pan-European distributor within the sectors we serve and we are committed to expanding our reach in the major markets in Europe over the years to come,” he said.
“Tereos is an important supplier for the Cornelius Nordic portfolio and opens conversation with customers across all food applications.”
Patrick De Meyer, sales director at Tereos Starch & Sweeteners Europe said in a statement he was confident that Tereos had chosen the right partner for consolidating and growing its distribution business in the Danish & Swedish markets. With an annual turnover of €1.4 billion, Tereos Starch & Sweeteners Europe processes 3.8m tonnes of cereals in nine plants worldwide.
The deal comes just a few weeks after the creation of Cornelius Nordic, the Scandinavian business arm of the UK company which will aim to extend its influence in the region. It will focus on health and nutrition ingredients such as enzymes, colours, fats and oils, flavours, proteins and fibres, but has not ruled out the possibility of extending into other markets in the future.
Its headquarters will be based in Silkeborg, Denmark.
