WORLD LEADER IN CARAMEL COLOR ACQUIRES CARGILL’S CERESTAR CARAMEL OPERATION

LOUISVILLE, KENTUCKY, USA (January 27, 2004) — D.D. Williamson, the world leader in caramel color, has acquired Cargill’s Cerestar caramel color operation in Manchester, England. The agreement with Europe’s largest glucose manufacturer strengthens D.D. Williamson’s global supply operations and expands its product line to customers, advancing a supplier partnership between Cargill and D.D. Williamson in existence for decades.

D.D. Williamson will source glucose syrup via pipeline from Cargill’s Cerestar starch refinery in Manchester to manufacture a broader line of caramel color and burnt sugar products for global markets. With the acquisition, D.D. Williamson will now operate two European production facilities. The company’s first European operation — located in Co. Cork, Ireland – recently celebrated the 25th anniversary of its construction.

“The Cork and Manchester plants are complementary, and the combination will create greater value for our customers,” said Ted Nixon, Chief Executive Officer. “Producing foods and beverages with consistently high quality on a global scale means having trusted suppliers who can deliver proven ingredients reliably, quickly, and consistently,” added Mr. Nixon. The acquisition will give D.D. Williamson further depth in its supply operations to support growing customer commitments and to further expand its product line for new customers and markets.

“Our focus is on caramel color and has been for 138 years,” continued Nixon. “All of our research and development efforts target ingredients that provide coloring solutions for food and beverage processors. The D.D. Williamson – Cargill strategic partnership reinforces our commitment to customers’ needs to enhance the visual appeal of their final products. It also demonstrates our commitment as the global leader in caramel color.”

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Cargill and D.D. Williamson were each founded in 1865. Both companies are privately-held with head offices located in the USA.

D.D. Williamson is the world’s largest manufacturer of caramel color. It produces caramel color for leading, global companies in beverages, flavours, sauces, gravies, soups, baked goods, dry mixes, pet foods and pharmaceuticals. The company operates seven manufacturing sites located in the USA, Puerto Rico, Ireland, China, Swaziland and Brazil. Visit www.caramel.com for more information.

Cargill is an international provider of food, agricultural and risk management products and services. With 101,000 employees in 60 countries, the company is committed to using its knowledge and experience to collaborate with customers to help them succeed. For more information, visit http://www.cargill.com.