Minority shareholding in CTH and Sonac sold to VION Ingredients
The minority shareholders of CTH and Sonac sold their 33.3% shareholding to VION Ingredients. This transaction originated from the joint venture that was realised in 2007 between CTH and Sonac, in which the Teijsen family sold the majority of their shares to VION Ingredients and acquired a minority interest in Sonac.
CTH (www.cth.biz) and Sonac are specialised in sourcing, processing and selling products form hog, sheep, beef and horse, as well as meat by-products from hog, beef, sheep and poultry. CTH has over 50 years of experience in casings. The companies supply customers in the meat processing and food industries, as well as in the pharmaceutical and pet food industries. The company has operations in 11 countries; the majority of the 1,100 employees are based in Changsha, China.
VION Ingredients is a worldwide leader in the development and production of specialty ingredients from animal origin for applications in pharmaceuticals, food, feed, pet food, fertilizer and bio-energy. Headquartered in Son en Breugel, the Netherlands, VION Ingredients has facilities on five continents and processes animal by-products through six brands including Rendac (rendering), Sonac (proteins, fats, edible fats and blood products), Ecoson (green power), Rousselot (gelatin), CTH (natural casings) and Best Hides (hides). In January 2014 VION Ingredients was sold by VION Food Group to Darling International.
PhiDelphi acted in this transaction as adviser to the minority shareholders of CTH.