Acquisition of Shares in a Functional Food Ingredients Business Affiliated to Celanese Corporation

Jun. 23, 2023

Main Contents

On June 22 (CST), Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) has decided, and agreed with Celanese Corporation ("Celanese"), a leading American chemical company, to acquire a 70% stake in its wholly owned subsidiary Nutrinova Netherlands B.V. ("Nutrinova"), which manufactures and sells functional food ingredients, and concluded related agreements. The purchase price for the shares is USD472.5 million (approximately ¥66.0 billion*1). Following the acquisition, Nutrinova will become Mitsui's equity method affiliate. The share purchase will be executed within the fiscal year ending March 2024 after the fulfillment of condition precedents, including obtaining the necessary approvals.

Nutrinova manufactures and sells the high-intensity sweetener acesulfame potassium, which is used in food, beverages, and other products, as well as the preservatives sorbic acid and potassium sorbates. Acesulfame potassium is 200 times sweeter than sugar, and it can be used to produce foods with low calories and carbohydrate content. Sorbic acid and potassium sorbates help to reduce food losses by extending the shelf life of food and beverages. Nutrinova is a reliable supplier of high-quality products containing the above ingredients to a diverse range of customers, including global major food and beverage manufacturers.

Celanese is a global chemical manufacturer based in the United States. Mitsui has built a strong and trusting relationship with Celanese through the joint operation of methanol business in the United States. Through the investment in Nutrinova, Mitsui will further strengthen its relationship with Celanese while working to contribute to the enhancement of Nutrinova's corporate value. Mitsui also aims to expand the added value of its food and nutrition business cluster through collaboration between Nutrinova business and Mitsui's existing business.

Mitsui has identified Wellness Ecosystem Creation as one of its key strategic initiatives in the Medium-term Management Plan 2026. In addition to healthcare and prevention, we will contribute to improvement in quality of life through provision of healthy foods and nutrition. Through this share acquisition, Mitsui aims to support the realization of richer and brighter lives by enhancing health and wellbeing through the provision of healthy foods and nutrition.

The acquisition is reflected in the consolidated forecasts for the fiscal year ending March 2024 announced on May 2, 2023.

1. Profile of Celanese

Name Celanese Corporation
Head Office Dallas, Texas, United States of America
Established 1918
Representatives Lori J. Ryerkerk, Chief Executive Officer
Business activities Production of chemical solutions and speciality materials
Net sales (consolidated) USD9,673 million (approximately ¥1.4 trillion*1) / year ended December 2022
Employees Approximately 13,000

2. Profile of Nutrinova

Name Nutrinova Netherlands B.V.
Head Office Amsterdam, Netherlands
Established 2022 (established as the holding company for the functional food ingredients business launched by Celanese in 1967)
Representatives Giacomo Vitarelli, Director
Business activities Production and sales of acesulfame potassium (a high-intensity sweetener), and sorbic acid and potassium sorbate (preservatives)
Financial summary (consolidated) (Fiscal year ended December 2022)
Sales: USD171 million (approximately ¥24.0 billion*1)
EBITDA: USD46 million (approximately ¥6.5 billion*1)
Employees Approximately 130 (as of December 31, 2022, including temporary workers)
Shareholders Before acquisition of additional shares Celanese 100.0%
After acquisition of additional shares Mitsui 70%, Celanese 30%

*1 Convert USD to yen at the exchange rate ¥140/USD
*2 Nutrinova's operating policies and agreements with Celanese are considered


For inquiries on this matter, please contact

Mitsui & Co., Ltd.
Investor Relations Division
Contact form
Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-80-5912-0321
Facsimile: +81-3-3285-9819
Contact form