Corn Products International to buy SPI Polyols food business

Corn Products International is acquiring the food business of SPI Polyols with the aim to strengthen its sweeteners portfolio.

While financial details of the transaction were not discussed, the deal includes shares of an SPI unit that controls 50 percent of Getec Guanabara Quimica Industrial in Brazil.

The estimated annual sales of the combined businesses are about $100 million.

The food business of SPI Polyols produces and sells specialty polyols, including crystalline sorbitol, crystalline maltitol, mannitol, specialty liquid polyols and liquid sorbitol for the food, beverage, confectionery, industrial and nutritional-supplement markets.

Polyols are sugar-free, reduced-calorie sweeteners primarily derived from starch.