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Food
Mitsui invests in Celanese food business
by Matt Blois
March 4, 2023
| A version of this story appeared in
Volume 101, Issue 8
Mitsui & Co. is acquiring a 70% stake in Celanese’s food ingredient business, which makes the artificial sweetener acesulfame potassium and the preservatives sorbic acid and potassium sorbate. Celanese will retain the remainder of the business, which generated sales of $170 million last year. Celanese didn’t disclose the price of the deal but says it will use the cash to pay down debt. The companies say the joint venture will benefit from Mitsui’s position in Asian food supply chains.
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