Eastman Kodak sells Eastman Gelatine subsidiary
ROCHESTER, N.Y. — In an effort to focus on its digital growth initiatives and accelerate its transformation to a digital company, Eastman Kodak said it is selling its Eastman Gelatine business to Rousselot, which is part of the Vion Food Group.
Eastman Gel develops gelatin primarily for use in photographic movie film and paper emulsions, but has expanded its business into pharmaceutical, edible protein and food/confectionary categories, Kodak said. The acquisition of the business by Rousselot will help strengthen the latter's position in both growing pharmaceutical markets and its current position in North America, Vion vice chairman Dirk Kloosterboer said.
Financial details of the deal, which is subject to customary closing conditions, were not disclosed. The transaction is expected to close within 30 days.