Cargill buys back NatureWax from Elevance Renewable Sciences
Cargill has acquired NatureWax, a market‑leading provider of natural, vegetable‑based waxes. Cargill owned NatureWax, based in Woodridge, Ill., U.S.A., from its inception in the late 1990s until 2007. In 2007, it was sold to its current parent company, Elevance Renewable Sciences, Inc. Cargill only purchased the NatureWax business back from Elevance. Terms of the agreement were not disclosed.
Going forward, Elevance will focus its efforts on developing its growing metathesis products business, a technology that creates chemical intermediates from vegetable‑based feedstocks more economically than traditional methods.
As full owner of NatureWax, Cargill will use its global supply chain management strengths and its technical innovation capabilities to provide waxes superior to petroleum‑based paraffin alternatives.
Vegetable‑based waxes are gaining in popularity because they burn cleaner and longer, and because it is easier to imbue them with fragrances.
“NatureWax has a long history of providing superior technical service to help its customers, creating differentiated products and streamlining supply chains,” said Cargill Industrial Specialties Global Managing Director, Kurtis Miller. “And Cargill’s customers are asking us to help meet their growing demands for bio‑based products with enhanced performance and functionality. Our customers will benefit greatly from the combined strengths of our two companies,” he said.