CropEnergies acquires Ensus
Germany-based CropEnergies has acquired UK bioethanol producer Ensus from funds affiliated to The Carlyle Group in an all stock deal worth €13.5 million.
Following the completion of the transaction, Carlyle is expected to gain 2.6% stake in CropEnergies.
The company is set to invest nearly €58 million to enhance the competitiveness of the UK producer and increase its own production capacity by 50% to more than 1.2 million m3.
Through Ensus, CropEnergies expects to access EU's third largest bioethanol market. Ensus owns one of the largest European bioethanol facilities that has an annual production capacity of 400,000 m3 along with 350,000 tonnes of dried protein animal feed (DDGS).
CropEnergies, meanwhile, is intending to invest €27million for a processing plant for neutral alcohol in Zeitz, Germany until 2015, continuing its expansion. The German producer has four modern production facilities in Germany, Belgium, the UK, and France with combined production capacities of 1.2 million m3 of bioethanol a year.