Royal DSM, a global science-based Nutrition, Health and Sustainable Living company, informed its stakeholders that it has completed the increase of its stake in Yantai Andre Pectin Co. Ltd. (Andre Pectin) to 75 percent.
The first announcement of the increase was made on 4 February 2019.
In 2013, DSM acquired a 29 percent stake in Andre Pectin. After settling a shareholder dispute, DSM later agreed to buy an additional 46 percent stake in Andre Pectin for a consideration of about €150 million ($170 m) with the other shareholders.
Shandong Andre Group Co., Ltd, which supplies raw materials and utilities, continues to hold the remaining 25 percent of Andre Pectin’s shares.
Andre Pectin is a leading producer of food specialty ingredients.