CHS: to Acquire Soy Protein Company Solbar

St. Paul / MN. (chs) CHS Inc., the United States´ leading farmer-owned cooperative, announced it has signed an agreement with Solbar Industries Limited, a global leader in specialty soy proteins and soy isoflavones to acquire 100 percent of the shares of Solbar. The purchase price reflects an equity value of approximately 133 million USD. Provided all conditions are met, the parties anticipate closing on the CHS acquisition of Solbar in the first quarter of calendar 2012. Among the required conditions are the approval of the shareholders of Solbar and antitrust approvals in certain jurisdictions outside the United States. Solbar provides soy protein ingredients to manufacturers in the meat, vegetarian, beverage, bars and crisps, confectionary, bakery, and pharmaceutical manufacturing markets. Solbar corporate offices are in Ashdod (IL), with manufacturing and logistics facilities in Ashdod and Ashkelon (IL), South Sioux City (NE), Ningbo (CN) and a sales office in Oakdale (MN). Solbar is a public company, traded on the Tel Aviv Exchange since 2004.