Cargill Inc. is acquiring most of the bioindustrial business of Croda International PLC, a British specialty chemicals firm, for $1 billion.

The deal announced Wednesday is the largest move by Minnetonka-based Cargill into the bioindustrials market.

The acquired business sells nature-derived alternatives to chemicals now commonly made with petroleum. These chemicals can be used in products ranging from plastic moldings for cars to food and beverage packaging.

"The bioindustrial space is a priority for Cargill, as we strive to support our customers with innovative, nature-based solutions that deliver real-world benefits," Colleen May, president of Cargill's bioindustrial business, said in a statement.

Cargill said the acquisition will "dramatically expand" its footprint to better serve manufacturers looking for "greener" ingredient solutions.

The deal is expected to close next summer, pending approvals. Cargill will gain 1,000 employees worldwide and five production facilities, including in the Netherlands, China and the United Kingdom, according to Croda's investors' update Wednesday.

"The business has a highly attractive portfolio, offering customers innovative, sustainable solutions in advanced technologies, and is focused on fast-growth markets in the circular plastic economy, electric vehicles and other renewable technologies," Croda told investors.

More than two-thirds of the raw materials used to create the acquired products are bio-based and renewable, according to the companies.

While Cargill already offers some bioindustrial products, Croda's business brings a vast array of new capabilities, including: canola oil chemistries used in adhesives and lubricants; biopolymer additives designed as anti-static and anti-fog agents for plastics, autos and consumer electronics; and bio-based lubricants used to improve performance in the energy sector, like wind.

There are thousands of specialized products that could use these new technologies, a Cargill spokeswoman said.

"Combining our diverse, global supply chain and deep operational expertise with Croda's extensive industrial business capabilities and broad bio-based portfolio will spark a new wave of innovation and create tremendous value for our customers," Cargill's May said.

Cargill — the nation's largest privately held company — is moving rapidly and aggressively into bio-based chemical alternatives, building on its experience as a giant in agricultural commodities and goods.

The company a year ago bought Floratech, a leading maker of botanical ingredients for beauty products.

In June, Cargill revealed it was partnering with Germany-based Helm on a new joint venture, called Qore, to build a $300 million plant in Iowa for manufacturing corn-based polymers. These polymers can be used to make yoga pants stretchy or to create the shiny lining inside paper coffee cups.

Two months later, Cargill supported construction of a new $600 million NatureWorks plant in Thailand. NatureWorks, also based in Minnetonka, is jointly owned by Thailand's largest chemical producer PTT Global Chemical and Cargill.

That company, which is the result of a 1989 Cargill research project, converts carbon stored in plants as dextrose sugar into resins that can be used in a variety of products, from diapers to phone cases to window shades.

Then, in September, Cargill bought France-based Akema's epoxides business, which included a plant in Blooming Prairie, Minn., that specializes in epoxidized vegetable oil. The deal was valued at $38.8 million.