Founded in 1998, Innovative Ingredients has a blending facility and bakery laboratory. Lars Obel, business director, food and beverage enzymes at Danisco told Food Navigator.com that the company has agreed not to disclose the value of the 100 percent share acquisition. While Danisco produces enzymes for a variety of food industry sectors, Innovative Ingredients is involved in final stage production to optimise bakery enzymes for local use, Obel explained. Danisco already has a sales office in Cape Town. Obel said that the combination of the two companies' activities will create a better platform for developing new products and supporting the South African customer base, thus driving drive future growth. "By having local experts, we are more able to deliver in the local area," he said. "Based on our cutting-edge research and development, manufacturing capability and unparalleled knowledge of food applications, we continue to enhance our position to supply the best tailor-made enzymes to achieve specific food manufacturer goals." The local South African bakery market is characterised by differences in flour quality compared to Europe and other key markets. The global industrial bakery enzymes market is estimated to be worth €180-190m, and Danisco considers South Africa to be the fifth largest player, behind the US, UK, Mexico and Australia. The transaction is expected to be completed in mid-August. Danisco's enzyme activities fall under its Bio-ingredients division, which comprises Genencor (enzymes) and Cultures (cultures and food safety). In full year 2006-7, Bio-ingredients reported revenue of DKK 5,209m (€700m) - 38 per cent of Dansico's total ingredients revenue. The division's revenue growth was six per cent over that reported for 2005-6. The company listed growing demand for bio-based industrial solutions such as enzymes amongst the key growth opportunities for ingredients, since they "provide financial and environmental benefits compared with today's conventional processes". All regions were said to have contributed to the growth in enzymes, but particularly Latin America and Asia Pacific. The strongest performance was seen in feed enzymes.