Celanese Corporation is selling an additional 19% stake in its Nutrinova food ingredients joint venture to Mitsui & Co., Ltd. for approximately $152 million in cash, as the chemical giant steps up efforts to reduce its debt.

 

The deal will leave Celanese with an 11% interest in Nutrinova and is expected to close in the fourth quarter of 2026.

 

Celanese said the transaction will help advance its plan to generate $1 billion in divestiture proceeds by the end of 2027. The 19% interest being sold generated approximately $4 million in equity earnings for Celanese in 2025.

 

“We are pleased to have monetized an additional 19% of the Nutrinova joint venture and taken another step towards our goal of achieving $1 billion in divestiture proceeds by the end of 2027. Transaction proceeds will immediately work to reduce our net debt as part of our deleveraging plan, and we intend to use them to pay down upcoming debt maturities,” said Scott Richardson, President and Chief Executive Officer.

 

The transaction also includes a separate arrangement involving a diketene production facility at the Industriepark Höchst in Frankfurt, Germany.

 

Celanese will own and operate the facility temporarily before transferring it to Nutrinova. The unit is co-located with Nutrinova's facility and supplies raw materials to the food ingredients business.

 

Under the agreement, Nutrinova will fund the facility's purchase price and all future operating costs. Celanese will not be required to provide funding, but will supply its process chemists, operators and maintenance professionals to run the asset.

 

The arrangement gives Nutrinova greater control over a critical input that it has historically sourced from outside producers.

 

“The Nutrinova business has historically sourced these key inputs from external producers. When the opportunity arose to bring this production in-house, we were glad to be able to build upon our long-term strategic partnership with Mitsui and enable Nutrinova to achieve meaningful security of supply,” said Richardson. 

 

“We will continue to look for ways to strengthen our strategic partnerships while aggressively looking for opportunities to prudently deleverage the balance sheet.”

 

Nutrinova is the original inventor and only Western producer of Sunett acesulfame potassium (Ace-K), a zero-calorie, high-intensity sweetener. It is also a major producer of sorbic acid and potassium sorbate preservatives.