# Mitsui to acquire 70% of Celanese Food Ingredients in Nutrinova joint venture

Celanese and Mitsui & Co. signed a definitive agreement to form Nutrinova, a food ingredients joint venture. Mitsui will acquire a 70 percent stake for $472.5 million, while Celanese keeps 30 percent. Closing is expected in the second half of 2023, pending regulatory approvals.

- Type: Acquisition
- Announced: 2023-06-22
- Value: $472.5M
- Status: announced
- Products: acesulfame potassium sweetener, sorbic acid, potassium sorbate preservatives, Sunett Ace-K
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Celanese](https://endata.com/companies/10711.md)
- [Mitsui & Co.](https://endata.com/companies/10710.md) (acquirer)

## Sources

- [celanese.com](https://www.celanese.com/news-and-media/2023/june/celanese-mitsui-nutrinova-joint-venture), 2023-06-22: "Mitsui will acquire the remaining 70 percent stake at a purchase price of $472.5 million, representing an enterprise valuation of approximately 15 times 2022 EBITDA."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.