Refresco, the global independent beverage solutions provider for retailers and global, national, and emerging (GNE) brands in Europe, North America, and Australia, announced it has entered into an agreement to acquire Frías Nutrición (“Frías”) from Alantra Private Equity and the founding family. This transaction is subject to regulatory approval.
Frías is a leading manufacturer of plant-based drinks with a production facility located in Burgos, Spain and employs around 250 people. Frías produces private label plant-based drinks, including almond, rice, hazelnut, and soy drinks, for key Spanish retailers and beyond.
CEO Refresco, Hans Roelofs, commented: “As part of our proven Buy & Build strategy, we are looking to expand our capabilities in existing and adjacent beverage categories. The acquisition of Frías significantly strengthens our position in the fast-growing plant-based drinks category. It complements our existing footprint in Spain with a production facility solely dedicated to plant-based products.
“In addition, acquiring Frías enables us to further expand our service offering to retailers and branded customers and retailers across Europe, accelerates our product innovation capabilities in the plant-based drinks category, and underscores our ability to capture opportunities in the market.”
Bruno Delgado-Luque, Partner Alantra Private Equity, added: “Since we acquired Frías in 2019, the company has been on a remarkable growth trajectory, confirming its leadership position in the Iberian Peninsula, and expanding its international business. Together with the Frías family, we launched a major investment plan that resulted in the creation of one of the most modern and efficient plant-based drinks factories in Europe. We are confident that Frías has a bright future ahead and will continue its successful growth with the support of Refresco.”
About Refresco Refresco is the global independent beverage solutions provider for retailers and global, national and emerging brands with production in Europe, North America and Australia. Refresco offers an extensive range of product and packaging combinations from juices to carbonated soft drinks and mineral waters in carton, PET, Aseptic PET, cans and glass. Refresco continuously searches for new and alternative ways to improve the quality of its products and packaging combinations in line with consumer and customer demand, environmental responsibilities and market demand. Refresco is headquartered in Rotterdam, the Netherlands and has more than 14,500 employees.
About Alantra Private Equity Alantra Private Equity is a pioneer in the Iberian private equity market with more than 30 years of experience and investments of c. €2.0bn. It has a unique and proven track record in the food and beverage, healthcare, and industrial technology sectors throughout different economic cycles. Since 1990, Alantra Private Equity has led investments in more than 120 assets (60 platforms and 65 add-ons) and has completed more than 50 exits.
The Danish brewery Carlsberg is buying the British soft drinks manufacturer Britvic for the equivalent of 3.9 billion Euro. The Carlsberg Group plans to transform Britvic into an integrated beverage company called Carlsberg Britvic.
The takeover is intended to promote Carlsberg’s growth in Western Europe and achieve annual cost savings of the equivalent of a good 118 million Euro.
Glanbia plc, the Better Nutrition company, announced that it has entered into an agreement with the shareholders of Aroma Holding Company, LLC and related entities, the owners of Flavor Producers LLC to acquire the business for an initial consideration of USD 300 million plus deferred consideration (the “Transaction”).
Transaction overview and rationale
Flavor Producers is a leading flavour platform in the US, providing flavours and extracts to the food and beverage industries, with a focus on organic and natural ingredients. Glanbia will operate Flavor Producers within its Glanbia Nutritionals (“GN”), Nutritional Solutions business (“NS” or “Nutritional Solutions”).
The Transaction is consistent with Glanbia’s strategy of acquiring complementary businesses to grow its Better Nutrition platforms. Flavor Producers significantly expands NS’s flavours offering, bringing new capabilities in the attractive and growing natural and organic flavours market which are aligned with long term consumer trends.
Transaction highlights include:
Flavor Producers is a leading independent flavours business in the US which represents a synergistic fit with the existing flavours capability of NS;
Acquiring an established platform with a 40 year plus history, a strong team and a track record of innovation;
Excellence in R&D and proprietary ingredients with best-in-class formulation capabilities. Extensive flavour library and vertical integration into flavour extracts, facilitating clean label solutions;
Financially attractive margin and growth profile which will improve business mix within NS; and
Consistent with Glanbia’s balanced capital allocation framework and retaining a strong financial position post Transaction.
Transaction consideration, financing and closing
The initial consideration is USD 300 million with an additional deferred payment of up to USD 55 million, conditional on performance in 2024. Final consideration will also be impacted by the value of actual working capital and customary completion accounts at closing. The Transaction will be financed by Glanbia’s existing banking facilities and cash. Glanbia has a strong balance sheet with net debt of USD 248.7million at the end of FY 2023, a net debt to adjusted EBITDA ratio of 0.5 times and USD 1.3 billion of committed debt facilities.
It is anticipated that the Transaction will close in the first half of FY 2024 subject to customary closing conditions and agreed completion accounts.
The Transaction is expected to be marginally accretive to Glanbia’s adjusted earnings per share in its first full year of ownership.
The Company’s current EUR 100 million buyback programme announced on 28 February 2024 is ongoing and is unaffected by this Transaction.
About Flavor Producers Flavor Producers was founded in 1981 as a family business in Valencia, California. They pioneered the development of natural and organic flavours by sourcing raw materials from nature. Plant-based flavour and extract creation is the Company’s specialty, with unique technologies that deliver transparently delicious taste to food and beverages. Today, Flavor Producers is a leading developer and manufacturer of natural and organic flavours in North America. Flavor Producers serves leading FMCG companies as well as high growth and emerging consumer brands. In the 12 months to February 2024, Flavor Producers delivered USD 86.1 million net sales and adjusted EBITDA (before non-recurring costs) of USD 19.7 million. The gross assets of Flavor Producers as at February 2024 were USD 321 million.
Berjé Inc. announced the acquisition of Global Citrus International (GCI) and Acelim del Peru – two Peruvian growers and producers of essential oils and fruit products with extensive operations in Peru and strong collaboration with Citrolim SA de CV, based in Mexico. With this acquisition, GCI and Acelim will become part of the Berjé Inc. family of companies, and will be renamed and operated as Citrolim Peru and Acelim.
GCI and Acelim are respected and preeminent growers, processors, and suppliers of lime-based products, including fresh limes, lime essential oils, lime juice, and lime peel. The renaming as Citrolim Peru will facilitate the integration and alignment of these operations into the world-renowned Berjé family of companies, further expanding the position as international producers within the flavour and fragrance industry.
As part of the business expansion strategy in the global market, Duas Rodas Industrial SA announces the acquisition of tropextrakt GmbH, headquartered in Frankfurt (Germany). The German company, founded in 2002, also has an office in Poland. Specialising in the import and distribution of extracts and juices used in the food, beverage and nutritional supplement industries, tropextrakt GmbH will continue its operations as normal.
The transition process will use the same principles of integrity and transparency that have guided the commercial partnership between the two companies for more than 20 years, ensuring maintenance and synergy of the activities.
Founded 98 years ago by a German immigrant couple in Brazil, Duas Rodas Industrial is a Latin American leader in the manufacture of ingredients for the food and beverage industry, with a customer base of more than 10 thousand customers and a portfolio of more than 3 thousand items. The company currently has three factories in Brazil – in Jaraguá do Sul/SC, São Bernardo do Campo/SP and Estância/SE -, three manufacturing units in other Latin American countries – Chile, Colombia and Mexico – and commercial offices in the USA and China.
Duas Rodas Industrial´s goal is to enhance the partnerships, strengths and portfolios of both companies and transform tropextrakt GmbH into a Research and Innovation Center for expansion in the European market, creating new opportunities in products and technologies.
Coca-Cola Europacific Partners plc (CCEP) announces it has, together with Aboitiz Equity Ventures Inc. (AEV), entered into a definitive agreement to jointly acquire Coca-Cola Beverages Philippines, Inc. (CCBPI) from The Coca-Cola Company (KO).
The acquisition will build on CCEP’s successful expansion into Australia, Pacific & Indonesia (API) in 2021, further strengthening the partnership with its significant shareholder KO, and positioning CCEP as the world’s largest Coca-Cola bottler by both revenue and volume while supporting its long-term growth strategy and focus on driving shareholder value.
CCEP’s acquisition of CCBPI, with AEV, one of the leading conglomerates in the local market, offers a great opportunity to co-own an established, well-run business with attractive profitability and growth prospects.
The transaction is a further step for CCEP to create a more diverse footprint within its existing API business segment. It will also provide the opportunity to leverage best practice and talent, including supporting Indonesia’s transformation journey. It is therefore aligned with CCEP’s aim of driving sustainable and stronger growth through diversification and scale, and underpins the company’s mid-term strategic objectives.
Döhler, a global producer, marketer and provider of technology-driven natural ingredients, ingredient systems and integrated solutions for the food, beverage and life science & nutrition industry acquires Frikos and strengthens its product portfolio of freeze-dried fruits.
Döhler, leading global producer, marketer and provider of technology-driven natural ingredients, ingredient systems and integrated solutions for the food, beverage and life science & nutrition industry has acquired Frikos, a Serbian company renowned for its expertise in premium quality freeze-dried fruits. This acquisition marks a significant step in enhancing Döhler’s strategic product portfolio, particularly in the area of organic red berries.
Located two hours southwest of Belgrade, Serbia, in the heart of the raspberry cultivation region, Frikos has been at the forefront of innovation in the freeze-dried berries sector for many years. In partnership with Friko’s management, Döhler will build on this success and strengthen its global market position, for example, with their state-of-the-art technology in the production of organic raspberries.
With their strong focus on organic products, Frikos demonstrates their commitment to sustainable farming practices and support for the local agricultural community. The strategic location of Frikos, coupled with their in-house technology and robust quality management systems, leverages the expertise of local farmers and supports continuous improvement of their product quality.
Frikos will have access to all of Döhler’s cutting-edge technologies, and together with Döhler’s application labs, global and local customers can expect prime services and a more extensive product portfolio.
Customers worldwide, especially in North America and Europe, will now benefit from a broader range of premium quality freeze-dried berries as well as a reliable supply chain. This strategic acquisition further strengthens Döhler’s commitment to meeting the evolving needs of customers and consumers worldwide for excellent, tasty, healthy and sustainable solutions in the food and beverage industry.
About Frikos Frikos is a company specializing in the production of premium frozen and freeze-dried fruits, particularly in red berries, with a focus on organic locally grown products, like organic raspberries and blackberries. Located in the heart of Serbia’s raspberry cultivation region, the company has established a strong reputation for premium quality products and innovation especially in developing own freeze-drying technologies. With their strong focus on organic products, dedication towards market trends and customer needs, Frikos demonstrates their commitment to sustainable farming practices and support for the local agricultural community.
Sunny Sky Products, LLC, a leading producer of dispensed beverage solutions offering hot, cold, frozen, and beverage enhancer products for the convenience store and foodservice channels in the US, announced the closing of its acquisition of LX/JT Holdings Inc and subsidiaries, Dba Bevolution Group, a leading manufacturer and supplier of innovative beverage solutions, primarily selling clean label and preservative free smoothie bases, bar and cocktail mixes, juices, concentrates and other related beverage products into the foodservice channel from Highlander Partners, L.P. (along with its affiliates “Highlander”). The terms of the acquisition were not disclosed.
Bevolution was created via the combination of well-respected and reputable brands including JuiceTyme, Lemon-X, Dr. Smoothie and Tropics. The business operates a multi-site beverage manufacturing platform with 3 facilities strategically positioned across the US, with capacity to support future growth. Bevolution develops and innovates new products with its in-house R&D staff and partners with its customers to bring new on-trend products to market.
About Sunny Sky Products Sunny Sky, a portfolio company of TJC, is a leading producer of dispensed beverage solutions, offering hot, cold, frozen, and beverage enhancer products for the convenience store and foodservice industry. The Company’s products include specialty cappuccinos, frappes, hot chocolates, cold brew and iced coffee, craft beverages, fountain drinks, aguas frescas, teas, frozen slushies, smoothies, coffee syrups, creamers, sauces and toppers. The Company employs approximately 400 team members across three best-in-class manufacturing facilities, Houston, TX (headquarters), Tinley Park, IL and Douglassville, PA.
About Bevolution Group Bevolution is a leading manufacturer of innovative beverage solutions primarily selling clean label and preservative free smoothie bases, refreshers, bar and cocktail mixes, juices, teas, lemonades, thickened waters, beverage powders and other beverage concentrates in both shelf stable and frozen formats. Bevolution predominantly serves the foodservice, hospitality, coffee shop and convenience channels. The company markets and sells its products under company brands including Dr. Smoothie, Tropics, Refrasia and Lemon-X, as well as partners with customers on select customer or private label products. The business operates 3 manufacturing facilities across the US with production facilities in Chicago, IL, Frostproof, FL, and Fullerton, CA and employs approximately 175 employees across all locations.
Royal Unibrew A/S announced the closing of the acquisition of Vrumona, the second largest soft drink company in the Netherlands, from Heineken. Vrumona is located near Utrecht and employs more than 300 people. The company has a strong portfolio of own brands and partner brands supporting the health and sustainability agenda.
Lars Jensen, CEO of Royal Unibrew A/S, states: “I am happy to welcome the dedicated and talented people from Vrumona to the Royal Unibrew family. We are eager to onboard the strong organisation and get started on the exiting journey to establish the company as a multi-beverage platform in Central Europe that will deliver organic earnings growth for years to come.”
As previously announced, Royal Unibrew A/S is acquiring 100 % of Vrumona at an enterprise value of EUR 300 million on a debt free basis. In 2022, Vrumona realised net revenue of EUR 200 million and an EBITDA of around EUR 25 million, resulting in an acquisition multiple (EV/EBITDA) of 12x.
The acquisition is expected to be EPS accretive in 2024, and ROIC on the acquisition is expected to exceed WACC within three years.
Vrumona fits very well into Royal Unibrew A/S’ operating model of strong local businesses with strong local brands with its solid positions in On-Trade and Off-Trade. The company has been a front runner in creating healthy and functional beverages for years for which reason the majority of its business is within the no/low sugar and calories segment. With the acquisition, Royal Unibrew A/S establish a new growth platform and expand its geographical footprint while the company also expand its longstanding relationship with PepsiCo as Vrumona is operating the full beverage portfolio from PepsiCo on a license agreement in a partnership dating back to 1949.
The Vrumona production facility in Bunnik includes seven lines with a current annual output of around 3.1 million hectoliters. The production facility is in a good condition; however, additional long-term investments are needed to improve efficiency as well as to expand capabilities and capacities. It is therefore expected that it will take some years before the platform is able to exploit its full organic growth potential.
The Board of Britvic plc announced the completion of the acquisition of the Extra Power energy drink brand from GlobalBev following receipt of regulatory clearance. As part of the transaction, Britvic has also agreed to acquire three additional Brazilian soft drinks brands from GlobalBev, including the energy brand Flying Horse, the juice brand Juxx and the acai smoothie brand Amazoo.
Collectively, this acquisition in Brazil enables Britvic to expand its brand portfolio and regional footprint. Energy is the fastest growing category in the market with volume growing 17 % in 20221 on the previous year and forecast to grow 20 % year-on-year in 20232. Within this category, Extra Power has broad-based distribution and 42 % market share3 in its core regions near Brasilia, while Flying Horse was the first international energy brand to enter Brazil around 20 years ago. Juxx is a premium juice brand with added health benefits, and Amazoo is an acai-based premium smoothie. In the year to December 2022, the acquired portfolio generated R$ 118 m of net sales, growing 26 % on the previous year.
This marks an important extension of Britvic’s Brazilian operations, consistent with Britvic’s strategy to accelerate and expand its presence across Brazil. The acquisition also includes a modern, efficient warehouse in Brasilia that will enhance Britvic’s supply chain efficiency across its wider portfolio and route to market into Brazil’s Centre-West region.
Simon Litherland, Chief Executive Officer commented: “The addition of these brands to our Brazilian portfolio will accelerate our growth trajectory in one of our key markets, as well as generate value overall. In line with our strategy to expand our business and accelerate our growth in Brazil, we now have a meaningful presence in the Centre-West region, providing the opportunity to scale our existing brands into territories where we’ve historically under-indexed, while also bringing new brands into our existing market regions.”
Britvic first entered the Brazilian market in 2015 with the acquisition of Ebba, followed by the acquisition of Bela Ischia in 2017. Since then, Britvic has developed fruit favourites such as Maguary, Dafruta and Bela Ischia into strong national presences known for innovation.
The Maguary brand heritage dates back to 1953 and, similar to the European flavour concentrates brands, is consumed by families at home. This heritage and family awareness enabled Fruit Shoot to be launched in Brazil as Maguary Fruit Shoot – following the same approach Britvic has followed in Europe, where Robinsons and Teisseire are the halo brands. New category launches in recent years have included Puro Coco and Natural Tea, both of which are ready-to-drink formats in the coconut and iced tea categories. More recently, the Brazilian team has expanded Maguary’s presence further, launching a plant-based chocolate drink.
Dafruta Tropical was launched in the flavour concentrates category, utilising the technical know-how of the Robinsons formulation. This new range uses real fruit, has a range of flavours and is pre-sweetened, differentiating it from the traditional concentrates in Brazil which require sugar to be added by the consumer. More recently the portfolio has expanded with the launch of Britvic Mixers and the premium Mathieu Teisseire range of concentrates for cocktails.
The growth market for fruit drinks in Brazil is perfectly complemented by Britvic’s fruit growing and fruit processing company, Be Ingredient, providing natural ingredients for Britvic and the international market.
1Nielsen Energy Market Data all regions 2Global Data volume forecast by category 3Nielsen Data
On August 1, 2023, Anton Paar acquired the German company Brabender GmbH & Co. KG, which will be integrated into the Anton Paar Group as Anton Paar TorqueTec GmbH. The effective, retroactive date of the acquisition is January 1, 2023. The company, based in Duisburg, Germany, offers measurement and process engineering solutions for the testing of various raw materials and for recipe and process development. It covers a wide range of applications – from food and feed to plastics and rubber, and even batteries and other special applications.
The signing of the acquisition agreement took place on August 1, 2023. The parties have agreed not to disclose the purchase price. A smooth integration of Brabender into the Anton Paar Group is planned. As before, products and services can be purchased directly via the Brabender website and sales organisation.
Development, growth, and position on the market
For Anton Paar, the acquisition of Brabender is a promising addition to the product portfolio, especially in the area of material characterisation – one of Anton Paar’s strongest growth markets.
“The decisive factor for Anton Paar’s decision to purchase Brabender was the know-how in the development and production of world-leading measuring instruments, which the company has built up since its foundation 100 years ago,” says Anton Paar CEO Dr. Friedrich Santner. “In line with its own long-term strategy, Anton Paar will sustainably expand and further strengthen Brabender’s sites in Duisburg and Hackensack (USA).”
Brabender’s approximately 200 employees will become part of Anton Paar. The acquisition represents a clear commitment to progress, according to Brabender Executive Director Dr. David Szczesny: “Being part of the Anton Paar Group opens up many opportunities for us – in research and development of our innovative products as well as in sales and service. For us, this is a great move that will definitely benefit our employees and customers.”
Turpaz acquires control of the Hungarian flavour company Food Base, a company specialise in the production, development and marketing of flavours, herb extracts and essential oils for the food and beverage industry
Turpaz Industries continues the momentum of its acquisition campaign and the implementation of its growth strategy, announcing today that it has signed an agreement to purchase 60 % of the shares of the Hungarian company, Food Base, for a consideration of 9.5 million dollars, from which 60 % of Food Base’s net debt will deducted at the time of completion of the transaction. Additionally, the Seller will be entitled to future consideration will be based on Food Base’s business performance during the years 2023-2024. The agreement includes a call option for Turpaz to purchase the remaining Food Base shares, exercisable after three years from the expiration date completion of the transaction. Food Base’s sales turnover in 2022 amounted to 5.7 million dollars. The transaction will be financed through bank debt. Completion of the transaction is expected in the coming months, subject to receiving regulatory approvals in Hungary.
Food Base was founded in 2004 by Tamás Győrfi and today is a leading and growing company offering flavours and plant extracts to the Hungarian market, as well as exporting to other European countries. Food Base has a research and development center, a marketing and sales system and owns a modern and efficient production site measuring 4.5 dunams, located on land of 8.3 dunams in Budapest. The factory has a large production capacity with the possibility for significant expansion. Food Base employs 55 people, of which 10 are engaged in research and development and have advanced academic degrees. The main activity of Food Base is the development, production, marketing and sale of sweet flavours and natural herbal extracts for the food and beverage industry, with an emphasis on convenience food, health drinks and snacks, as well as unique raw materials for the nutritional supplement industry.
The acquisition is synergistic for Turpaz’s activities and is expected to significantly increase the circle of customers and the volume of sales, while expanding the product portfolio, deepening its activities and its market share in emerging markets. Turpaz intends to utilise the development, production and sales capabilities of Food Base to develop its business in the area.
About Turpaz: Turpaz was established in February 2011 and operates on its own and through its subsidiaries in the development, production, marketing and sales of scent extracts used in the production of cosmetics and toiletries, personal care products and atmospheric application; flavor extracts used in food and beverage production; unique intermediates for the pharmaceutical industry and unique raw materials for the agro and fine chemical industry; and citrus products and aroma chemicals for the flavour and fragrance industry. The Turpaz group has a wide and diverse portfolio of products, the result of in-house development and manufacture. Turpaz develops, manufactures, markets and sells products to more than 2,000 customers in over 30 countries around the world and operates 13 production sites that include research and development centers, laboratories and sales, marketing and regulatory offices in Israel, the USA, Poland, Belgium, Vietnam, Latvia and Romania.
On 20th of April 2023, Krones has signed an agreement to acquire 90 % of Ampco Pumps Company LLC. Based in Wisconsin, USA, Ampco Pumps is supplying sanitary pumps and applied products like mixing and blending equipment to the food, beverage, dairy processing, personal care and pharmaceuticals markets. The company has more than 70 year history in the pump market and is a key player for sanitary pumps in the US food and beverage market.
In the 2022 fiscal year, Ampco Pumps generated with a workforce of more than 130 employees revenue of approx. USD 50 million and a high EBITDA margin. The transaction will increase the profitability margin of the “Process Technology” segment as well as the group margin of Krones. Current Ampco management will remain and will continue to hold 10 % of the shares of Ampco. Krones has an option to buy the 10 % of the shares in the future.
The acquisition of Ampco Pumps is a major step in expanding the components business of Krones Processing. With Ampco Pumps and Evoguard Valve Technology Krones has now a broad portfolio of all key components for the processing technology market. In addition, the businesses of the two companies complement each other perfectly in regional terms.
The transaction is subject to approval under the relevant antitrust legislation. Krones expects the transaction to be completed (closing) within the first half of 2023. As of the closing date, Krones will consolidate the figures of Ampco Pumps in the “Process Technology” segment.
Bucher Unipektin has acquired the Polish company B&P Engineering Sp. z o.o., a manufacturer and supplier of equipment for juice and concentrate production. With the acquisition, Bucher Unipektin further strengthens its position as a leading supplier of fruit juice processing systems and technologies.
B&P Engineering Sp. z o.o., a privately held Polish company founded in 2003, designs, manufactures and installs engineered equipment for juice and concentrate production as well as stainless-steel tanks for the beverage industry. Its 450 employees generated annual net sales of around CHF 30 million in the past years. The company is located in Przeworsk and has a modern setup for parts and tanks production. All employees and the very dedicated management team will remain in place and operate under the new name Bucher Unipektin Sp. z o.o.
With this acquisition, Bucher Unipektin is in the position to supply its beverage customers with entire processing lines, complementing its high-tech equipment with B&P’s systems and vessels, and to provide an enhanced sales and after-sales service to its customers.
Bucher Unipektin, a Swiss-based business unit of Bucher Industries AG, is a globally leading manufacturer of systems and components for the juice and the beer industry and for drying technologies. The business unit’s production sites are in Switzerland, Spain, Germany, Czech Republic and China, supported by a sales and service organisation in Poland, Ukraine, Russia, New Zealand and Mexico and a global distribution network.
Oterra, one of the world’s leading suppliers of natural colours with one of the widest portfolios in the industry is pleased to announce that the acquisition of India’s Akay Group is now complete. Oterra announced its intention to purchase Akay in July of 2022. Founded in 1995, Akay Group is a leading player in the natural colours and nutraceutical ingredients market.
This acquisition is the company’s fourth in under two years, and its first within the Asia Pacific region. Based in Kerala, India, Akay has four manufacturing sites in southern India that Oterra will add to its existing production network, as well as 400 employees who will join the team.
The acquisition further strengthens Oterra’s backwards integration, mainly in turmeric and paprika. It also provides a strong addition in the nutraceutical ingredients area and will allow the company to offer its customers and market partners a complimentary portfolio to its existing natural food colours solutions for dietary supplements.
The two companies have a long-standing connection. Oterra, previously known as Chr. Hansen Natural Colors, was in 1995, part of a joint venture with Akay to produce natural colours from turmeric and paprika. From 2007, Akay continued as an independent company, but Oterra and Akay kept close ties with each other since Akay was a key supplier to Oterra.
SIG announced the completion of its acquisition of Pactiv Evergreen Inc.’s Asia Pacific chilled carton operations (“Evergreen Asia”). The business is fully consolidated from the beginning of August 2022.
On 5 January 2022, SIG announced that it had entered into an agreement to acquire Evergreen Asia, a leading system supplier of filling machines, cartons, closures and after-sales service in the chilled segment, covering dairy and non-carbonated soft drinks, with production facilities in mainland China, Taiwan and South Korea.
For the twelve months ended 31 December 2021, Evergreen Asia generated revenue of approximately EUR 135 million and adjusted EBITDA of approximately EUR 24 million1. It was acquired for an enterprise value of USD 335 million and SIG expects to realise run-rate cost synergies of approximately EUR 6 million.
The acquisition provides new growth opportunities in Asia, where demand is growing strongly especially for fresh milk in China. Evergreen Asia enables SIG to further expand its existing customer relationships with national dairies and provides access to new customers at a regional and local level. SIG intends to leverage its R&D know-how, innovation capabilities and its marketing expertise to introduce more innovative packaging formats in this market segment.
1Unaudited
Refresco Group B.V., the global independent beverage solutions provider for Global, National and Emerging (GNE) brands, and retailers in Europe and North America, announced that the acquisition of a majority stake in Refresco by KKR has been completed, following the receipt of regulatory approvals from the competition authorities.
On February 22, 2022, Refresco and KKR announced that they had entered into a definitive agreement for KKR to acquire a majority stake in the Company, with Refresco’s existing investors, PAI Partners and British Columbia Investment Management Corporation (“BCI”), maintaining a significant minority position.
Hans Roelofs, CEO, Refresco: “I am excited to start the next chapter in the development of our company, with KKR as our new majority owner. We will continue to execute our strategy, focused on growing alongside our customers and expanding into new categories and geographies. We look forward to leveraging KKR’s capabilities, operational expertise and commitment to sustainability to further strengthen our position and achieve our vision of ‘Our Drinks On Every Table’.”
Aetna Group, leading company in the production of end-of-line packaging machines and systems, has acquired the German company Meypack.
Meypack is a technology leader appreciated mostly for the quality and innovative capacity of its end-of-line products mainly in the food, spirits and home & personal care sectors in Germany and at an international level.
This operation is part of Aetna Group strategic plan to grow externally, to establish a production presence in countries with a manufacturing vocation, and to expand the product range in the food and personal care sector. Meypack’s internationalization will be further enriched by taking advantage of the presence of Aetna Group subsidiaries in the main countries of the world, so that Aetna Group will be able to increase its penetration in German-speaking markets.
Kerry, one of the world’s leading taste and nutrition companies, has announced it has completed the acquisition of U.S.-based Natreon, Inc., a leading supplier of branded Ayurvedic botanical ingredients.
Natreon supplies branded and scientifically studied and tested Ayurvedic extracts to the dietary supplement and functional food and beverage industries across the globe. The acquisition significantly expands Kerry’s leadership position and ProActive Health portfolio of science-backed branded ingredients, furthering the company’s technology growth. The branded ingredients in Natreon’s portfolio are protected by a wide range of U.S. and foreign patents and supported by a total of 52 clinical studies which support the efficacy of their health benefits. Natreon’s portfolio consists of the following:
Sensoril® – Ashwagandha extract for cognitive health benefits including stress, anxiety, and sleep.
PrimaVie® – Shilajit extract for sports nutrition and healthy aging.
Capros® – Amla extract for cardiovascular support.
Crominex® – Chromium complex for diabetes.
Ayuflex® – Terminalia chebula extract for bone and joint health benefits.
Ayuric® – Terminalia bellirica extract for uric acid health.
The ingredients will be integrated into Kerry’s ProActive Health portfolio and leveraged by Kerry’s broad customer base. The ingredients will be supported by Kerry’s global application and R&D network, including continued investment in the science and clinical evidence supporting the brands.
Kerry has been building a leading position in science-backed functional ingredients within its ProActive Health portfolio for the past several years, most recently with the acquisition of Spain-based company Biosearch Life in 2021.
Elopak advances its growth strategy with key acquisition of Naturepak Beverage Packaging Co Ltd, the leading gable top fresh liquid carton and packaging systems supplier in the MENA region
Elopak ASA has completed its acquisition of Naturepak Beverage from Naturepak Limited, a wholly owned subsidiary of Gulf Industrial Group, and Evergreen Packaging International LLC, a wholly owned subsidiary of Pactiv Evergreen Inc.
The acquisition of Naturepak, the leading gable top fresh liquid carton and packaging systems supplier in the MENA region, sees the addition of local production facilities in Morocco and Saudi Arabia to Elopak’s extensive existing global network, which already encompasses customers across 70 countries. At the same time, it boosts annual production capacity by more than 2.5 billion cartons, supporting the company’s ambition to meet the growing demand for sustainable packaging solutions.
The acquisition will also provide access to a strategic customer base in the fresh beverage carton segment in key growth markets, many of whom are global blue chip FMCG players and strong regional champions.
The acquisition marks a key milestone in Elopak’s growth strategy. Having listed on the Oslo stock exchange in 2021, the company is seeking to capitalize on its strong track record, growing geographical footprint and investment in sustainability-focused innovations to target organic growth of 2 – 3 % per annum. It is pursuing new business opportunities across both traditional and non-traditional segments, as well as driving the plastic to carton conversion.
Commenting on the acquisition Elopak CEO Thomas Körmendi stated, “We are delighted to have acquired such a high-quality asset in MENA. This move greatly enhances our position in the Middle East and African markets, enabling us to realize our ambitions of this growth region, as well as further strengthening our global footprint.”
“Going forward we are excited to share our sustainable packaging solutions with Naturepak Beverage’s client base and work hand-in-hand with them to find ways to reduce their carbon footprint and empower consumers to make environmentally conscious choices,” he continued.
“As we strengthen our presence in the region, we continue to bring new products to market that provide natural and convenient alternatives to plastic bottles that fit within a low carbon circular economy. We are ready to leverage our expertise, market-leading technology and skills to grow our presence in the region across products, segments and markets,” Körmendi explained.
Omya, a leading global producer of industrial minerals and a worldwide distributor of specialty chemicals, announced the acquisition of Prima Inter-Chem Sdn Bhd, a diversified distributor of Ingredients and Specialty Chemicals in Malaysia and Indonesia.
Omya has acquired the distributor Prima Inter-Chem in Malaysia and Indonesia. With this move, Omya boosts and develops its ingredient and specialty chemicals distribution capability in these countries for the food, pharmaceutical, animal feed and industrial markets. In addition it establishes a platform for growth for the wider region.
The acquisition strengthens ADM’s flavour capabilities and reach, expanding ADM’s footprint in the high growth African market
Global nutrition leader, ADM, announced that it has completed its acquisition of Comhan, a leading South African flavour distributor. ADM has worked together with the local business for a number of years, with the formal acquisition now giving new and current customers more direct access to ADM’s extensive portfolio and network of experts.
“This acquisition marks a very exciting moment for ADM, as we continue to develop our Nutrition business in key growth markets including Africa. I am confident that this acquisition will open up opportunities for our customers in the region and build on the capabilities of our existing offices in Nigeria and Kenya.” said Calvin McEvoy, President Global Beverages ADM.
“At ADM we believe it is critical to invest in flavour creation assets globally to extend production and supply chains, making it easier to get unique and consumer-preferred flavours to local customers. The acquisition of Comhan means we can bring together our 80 years’ experience in the flavour industry and Comhan’s unique market insight to generate innovative products which cater to local tastes and interests. Comhan’s business is currently focused on beverages but through this new partnership we plan to grow the distribution capabilities to include food and savoury products.” added McEvoy.
Welcoming Comhan into ADM’s portfolio comes together with other recent investments in alternative flavour production, including the company’s recent state-of-the-art facilities in Pinghu, China and Berlin, Germany.
The acquisition strengthens ADM’s flavour capabilities and reach, expanding ADM’s footprint in the high growth African market
Global nutrition leader, ADM, announced that it has completed its acquisition of Comhan, a leading South African flavour distributor. ADM has worked together with the local business for a number of years, with the formal acquisition now giving new and current customers more direct access to ADM’s extensive portfolio and network of experts.
“This acquisition marks a very exciting moment for ADM, as we continue to develop our Nutrition business in key growth markets including Africa. I am confident that this acquisition will open up opportunities for our customers in the region and build on the capabilities of our existing offices in Nigeria and Kenya.” said Calvin McEvoy, President Global Beverages ADM.
“At ADM we believe it is critical to invest in flavour creation assets globally to extend production and supply chains, making it easier to get unique and consumer-preferred flavours to local customers. The acquisition of Comhan means we can bring together our 80 years’ experience in the flavour industry and Comhan’s unique market insight to generate innovative products which cater to local tastes and interests. Comhan’s business is currently focused on beverages but through this new partnership we plan to grow the distribution capabilities to include food and savoury products.” added McEvoy.
Welcoming Comhan into ADM’s portfolio comes together with other recent investments in alternative flavour production, including the company’s recent state-of-the-art facilities in Pinghu, China and Berlin, Germany.
The acquisition strengthens ADM’s flavour capabilities and reach, expanding ADM’s footprint in the high growth African market
Global nutrition leader, ADM, announced that it has completed its acquisition of Comhan, a leading South African flavour distributor. ADM has worked together with the local business for a number of years, with the formal acquisition now giving new and current customers more direct access to ADM’s extensive portfolio and network of experts.
“This acquisition marks a very exciting moment for ADM, as we continue to develop our Nutrition business in key growth markets including Africa. I am confident that this acquisition will open up opportunities for our customers in the region and build on the capabilities of our existing offices in Nigeria and Kenya.” said Calvin McEvoy, President Global Beverages ADM.
“At ADM we believe it is critical to invest in flavour creation assets globally to extend production and supply chains, making it easier to get unique and consumer-preferred flavours to local customers. The acquisition of Comhan means we can bring together our 80 years’ experience in the flavour industry and Comhan’s unique market insight to generate innovative products which cater to local tastes and interests. Comhan’s business is currently focused on beverages but through this new partnership we plan to grow the distribution capabilities to include food and savoury products.” added McEvoy.
Welcoming Comhan into ADM’s portfolio comes together with other recent investments in alternative flavour production, including the company’s recent state-of-the-art facilities in Pinghu, China and Berlin, Germany.
SIG has entered into an agreement to acquire 100 % of Scholle IPN, a privately held company, for an enterprise value of EUR 1.361 billion and an equity value of EUR 1.05 billion. The transaction will be funded through 33.75 million SIG shares issued from existing authorised capital and EUR 370 million cash; the existing debt of Scholle IPN will be refinanced at closing. The transaction is expected to close before the end of the third quarter of 2022 subject to customary closing conditions.
This acquisition diversifies SIG’s exposure to growing and resilient end-markets. SIG’s portfolio of market-leading sustainable food and beverage carton solutions will be expanded into bag-in-box and spouted pouches for retail, institutional and industrial customers. SIG and Scholle IPN have many similarities and are highly complementary businesses in terms of systems and product offering. The combination will unlock significant growth opportunities and value.
Founded in 1945, Scholle IPN is a leading innovator in sustainable packaging with a systems offering. It is the inventor of and global leader in bag-in-box (2 l –1,500 l capacity) and the number two in spouted pouches (50 ml – 500 ml capacity). The acquisition will therefore expand SIG’s portfolio into both larger and smaller formats. Scholle IPN is headquartered in the USA and has approximately 2,100 employees globally. Revenue in the twelve months to 31 December 2021 was EUR 474 million with adjusted EBITDA of EUR 90 million (adjusted EBITDA margin c.19 %)2. The USA accounts for around 55 % of revenue and the acquisition will significantly increase SIG’s presence in this large and attractive market. It will also enable the expansion of the Scholle IPN portfolio into the emerging markets of Asia Pacific, Latin America and Middle East Africa, where SIG has a well-established presence.
With this acquisition, SIG will be able to offer the most sustainable packaging solutions across a wide range of categories and product sizes. Growth in bag-in-box is being driven by the shift from rigid to flexible packaging which significantly reduces the amount of material needed to package the product. Scholle IPN has a longstanding focus on sustainability and on the light-weighting of both packaging and fitments. It is a pioneer in the development of mono-materials which are designed for recycling. Joining together the R&D capabilities of the two companies will deliver more value to customers by advancing the development of material and aseptic technology to reduce carbon emissions and food waste.
Around 70 % of Scholle IPN revenues are in food and beverages which will underpin the resilience already demonstrated by SIG’s business. The acquisition will enable SIG to build on its core strength in aseptic technology and to expand its use in both pouches and bag-in-box. It will also drive SIG’s expansion into new categories such as wine and water. Like SIG, Scholle IPN has developed long-standing customer relationships and the acquisition brings multiple cross-selling opportunities, as well as potential for an enhanced service offering for the combined customer base. In addition, run-rate cost synergies of EUR 17 million will be generated in areas such as procurement and manufacturing efficiencies.
1At current USD/EUR exchange rate 2Unaudited. At 2021 average USD/EUR exchange rate
Refresco, a global independent beverage solutions provider for A-brands and retailers in Europe and North America, announced it has completed the acquisition of HANSA-HEEMANN, following the receipt of regulatory approval from competition authorities.
Refresco announced that it had entered into an agreement with HANSA-HEEMANN, a family-owned independent beverage manufacturer, to acquire its five production sites in Germany. Now that the acquisition has been completed, Refresco has nine bottling facilities strategically located in Germany, resulting in national coverage to serve customers’ demands. With this acquisition, Refresco also further enhances its position in terms of product and brand portfolio.
Hans Roelofs, CEO Refresco Group: “I am very pleased to add HANSA-HEEMANN to the Refresco Group, as it further diversifies and strengthens our business in Germany, which will benefit our customers. Through this acquisition, we significantly expand our offering in mineral water and soft drinks, and we are going to accelerate our operational excellence through HANSA-HEEMANN’s know-how in the water category. In addition, we will be able to improve transport efficiencies and leverage our global scale to further drive change in improving the sustainable use of resources.”
Following its announcement on 12 August 2021, Coca-Cola HBC AG (“Coca-Cola HBC”) announced the completion of the acquisition by its wholly-owned subsidiary, Coca-Cola HBC Holdings BV (“CCH Holdings”), of approximately 52.7 % of Coca-Cola Bottling Company of Egypt S.A.E. (“CCBCE”) from MAC Beverages Limited (“MBL”) and certain of its affiliated parties for cash consideration of US$304 million, subject to certain balance sheet adjustments. An additional earnout amount may be payable based on CCBCE’s financial performance in 2021. Mr. Abdul Galil Besher, the current executive chairman of CCBCE, will remain as non-executive chairman of CCBCE. The transaction with MBL also involves the potential acquisition by CCH Holdings, at the same price per share to be paid to MBL, of another approximately 2.8 % stake from certain other minority shareholders pursuant to agreements to be entered into in due course.
In addition, a convertible loan issued to a wholly-owned affiliate of The Coca-Cola Company (the “TCCC Seller”) by CCBCE, convertible into new CCBCE shares, has been transferred to CCH Holdings for a cash consideration of approximately US$22 million (which is equal to its outstanding principal amount and unpaid interest).
Completion of the acquisition by CCH Holdings of approximately 42 % of CCBCE from the TCCC Seller, also announced on 12 August 2021, is expected to occur later this month, bringing CCH Holdings’ total ownership in CCBCE to 94.7 %.
The acquisition gives Coca-Cola HBC access to the second-largest non-alcoholic ready-to-drink (“NARTD”) market in Africa by volume, building on existing scale in Africa and increasing Coca-Cola HBC’s exposure to high growth geographies. There is a significant opportunity to leverage Coca-Cola HBC’s proven route-to-market capabilities and 70 years of experience operating in emerging markets to increase penetration of The Coca-Cola Company’s brand portfolio and drive category leadership.
Acquisition will expand wine portfolio in France, including Bordeaux.
Berlin Packaging, the world’s largest Hybrid Packaging Supplier®, announced the acquisition of Gerfran SAS, a family-owned supplier of glass packaging specializing in the wine and beverage end markets.
Founded in 1984 and acquired by Lionel Fruh in 2008, Gerfran is a unique player in the Aquitaine region of France. Headquartered in La Réole, the company specializes in the sale of wine bottles with an emphasis on Bordeaux bottles and serves wine producers of all sizes, from small vineyards to large estates. In addition to wine bottles, the company also sells bottles and jars for beer, spirits, fruit juices, and food.
With warehouses across the southwest of France, Gerfran has strong relationships with its customers, who benefit from the company’s value-added services and turnkey solutions.
Following completion of all pending transactions, Gerfran will be the 18th acquisition by Berlin Packaging in EMEA (Europe, Middle East, and Africa) since 2016 and the 8th acquisition in EMEA in 2021.
All employees and locations for this acquisition will be retained.
Symrise AG announced that it has signed a purchase agreement for the acquisition of Giraffe Foods Inc., a Canada based producer of customized sauces, dips, dressings, syrups and beverage concentrates for B2B customers, in the home meal replacement, food service and retail markets. With this transaction, Symrise will take a major step forward in the value chain, providing a wider variety of advanced taste solutions to a larger customer base in North America. This move will drive accelerated growth in the region for Symrise’s Flavor & Nutrition segment. In their fiscal year ended June 2021, Giraffe Foods saw an increase in sales above 25 %, generating revenues of approximately CAD $80 million. The closing of the transaction is expected before the end of 2021. The purchase amount has not been disclosed.
Through this acquisition, Symrise strengthens its market position with a fast-growing customer base in North America and will benefit from Giraffe Foods’ high degree of customer intimacy. Additionally, moving further down the value chain will facilitate access to and further develop new capabilities, including advanced food science and culinary expertise, proprietary recipes as well as new and sustainable packaging formats.
Giraffe Foods Inc. is a leading player in the formulation and manufacturing of custom taste solutions in a wide array of packaging. Based on its advanced R&D and culinary capabilities, customers rely on Giraffe to formulate and produce unique sauces, dressings, syrups, beverage concentrates and more. In addition, customers also value Giraffe for their wide options of packaging and broad range of processing capabilities housed in state-of-the-art facilities. The food service, value added protein and home meal replacement sectors have historically seen strong growth in both North America and Europe.
Symrise will acquire 100 % of Giraffe Foods Inc. from private investment firm Graham Partners and the founding Powell family. Symrise will finance the transaction through a dedicated bank facility. As part of the transaction, Symrise will acquire the existing two production facilities and one warehousing site and integrate the approximately 250 employees of Giraffe Foods.
ADM, a global leader in nutrition and agricultural origination and processing, announced that it has completed its acquisition of Sojaprotein, a leading European provider of non-GMO soy ingredients. The addition represents a significant expansion of ADM’s global alternative protein capabilities and its ability to meet growing demand for plant-based foods and beverages.
Established in 1977, Serbia-based Sojaprotein exports into 65 countries, offering a wide range of non-GMO vegetable protein ingredients for an extensive list of European and global customers in the meat alternative, confectionary, protein bar, pharmaceutical, pet food, and animal feed segments. The company achieved more than $100 million in sales in 2020.
The addition of Sojaprotein to ADM’s portfolio is the latest significant investment as the company continues to grow in alternative proteins; other additions include the company’s soy protein complex in Campo Grande, Mato Grosso do Sul, Brazil; its new pea protein plant in Enderlin, North Dakota; its PlantPlus Foods joint venture; and partnerships with innovative startups like Air Protein.
The strategic partnership rapidly expands Beliv’s footprint in the US; new probiotic innovation makes a splash
Beliv, Latin America’s fastest-growing bev-tech company with 40 brands in 35 countries, announced that it has completed the acquisition of Big Easy, a leading manufacturer of all-natural, plant-powered probiotic drinks in the US.
The transaction rapidly expands Beliv’s footprint in the US market and reinforces its commitment to bring exciting new products in high-growth beverage categories to consumers worldwide. Big Easy’s line of wellness-focused drinks will be the first probiotic products in Beliv’s portfolio.
With a manufacturing facility in New Orleans (LA, USA), Big Easy and its approximately 50 employees have built a winning culture centered around innovation, successfully bringing to market trend-forward, easy-to-enjoy beverages with digestive health benefits, including kombucha, functional juice shots, and tepache, a prebiotic pineapple soda with pre-Hispanic roots, which recently debuted in a new 12-oz can in Publix.
“Innovation is key to market growth and to meeting new expectations of consumers across the globe. By adding Big Easy into Beliv’s portfolio, we magnify the strengths and entrepreneurial spirit of both companies to respond to the intense demand for authentic, natural, and sustainable products that focus on functionality, well-being, and nutrition,” said Carlos Sluman, CEO, founder, and partner of Beliv.
Launched in 2014 by Austin Sherman and Alexis Korman, Big Easy delivers authentically crafted drinks with gut-health and immune-supporting benefits to customers who shop at over 3,000 retail accounts and growing in the US, including Publix, Sprouts, Wegman’s, and others. The founders will continue in active roles driving the company’s mission and innovations forward.
“Going big is about to get easy,” says Big Easy founder and CEO Austin Sherman. “We’re fired up to join the diverse and dynamic family of brands at Beliv and see our beverages reach new consumers internationally. Contemplating our brand’s humble origins making one bottle of kombucha at time, the opportunity to bring our products to the world is a dream realized. With access to Beliv’s infrastructure and resources, and new markets to dominate together, we’re confident this partnership will speed our mutual growth.”
Royal Unibrew A/S has today entered into an agreement with Danone to acquire 100 % of Aqua d’Or Mineral Water A/S – the leading Scandinavian mineral water producer with a strong market presence in Denmark and Sweden. The acquired activities have a strong organization and a modern production facility in Central Jutland, Denmark.
Closing of the transaction is subject to approval from the Danish Competition Authority, which is expected during the first half of 2022.
The acquisition strengthens Royal Unibrew’s market position within water in Denmark, as well as providing access to new sales channels for Royal Unibrew.
Aqua d’Or produces predominantly still and sparkling water and the company’s focus on healthy beverages fits strategically very well with Royal Unibrew’s focus on no/low calorie beverages. Aqua d’Or’s modern production facility in central Jutland, Denmark, provides additional capacity and diversify our production footprint.
Aqua d’Or has around 75 employees and generated revenue of around DKK 180 million in 2020. The company markets its own brands Aqua d’Or, Klar and Denice, as well as supplying private products to selected customers.
CEO Lars Jensen of Royal Unibrew says “I am very pleased to announce that we have entered into an agreement to acquire Aqua d’Or and we look forward to welcoming our new colleagues to Royal Unibrew. Aqua d’Or has built a strong brand in the water category in Denmark, and it fits strategically very well with our own water business in Denmark, as well as with our strategic focus on low/no sugar products”.
The acquisition of Aqua d’Or does not change the full-year EBIT outlook of DKK 1,625-1,700 for 2021.
Addition significantly expands ADM’s wide array of innovative, groundbreaking products and solutions to help meet $775 billion global demand in health & wellness
ADM, a global leader in nutrition and agricultural origination and processing, announced a significant expansion of its broad portfolio of health and wellness products and solutions with an agreement to purchase U.S.-based Deerland Probiotics & Enzymes.
“The microbiome represents one of ADM’s six strategic growth platforms, and with global demand for health and wellness products estimated at more than $775 billion, today’s investment represents a significant step forward for ADM,” said ADM Chairman and CEO Juan Luciano. “Deerland Probiotics & Enzymes is a leader in probiotic, prebiotic and enzyme technology, with global sales and manufacturing in the U.S. and Europe, and is a perfect fit for our growing portfolio of functional ingredients and solutions for health-conscious consumers. We expect the addition of the Deerland capabilities and portfolio to deliver synergies for our Health & Wellness business and support growth across our Nutrition business unit.”
Deerland Probiotics & Enzymes is a trusted global provider of probiotic and dietary supplements using probiotic, prebiotic, and enzyme technology, including 12 branded product lines serving customers in areas including digestive health, immune health, women’s health, food intolerance, sports nutrition, cellular repair, and systemic and cardiovascular health. The company’s products and solutions include spore probiotics, which offer enhanced stability for a wider use in food and beverage, pet nutrition and supplement applications. Based in Kennesaw, Georgia, U.S., Deerland operates five manufacturing facilities, one fermentation facility, and eight R&D and quality control laboratories globally.
“The hand-in-glove fit of Deerland’s vast portfolio of branded technologies, clinical studies and world-class dosage form production capabilities combined with ADM’s Health and Wellness solutions is strong and unparalleled, allowing us to provide our dietary supplement, food/beverage and companion animal customers with a much broader array of products and capabilities,” said Scott Ravech, Deerland Probiotics & Enzymes CEO. “The Deerland team could not be more excited at the opportunity to be a part of the ADM family.”
The Deerland acquisition is the latest in a series of ADM strategic investments to build a full-scale global Health & Wellness business to help meet fast-growing demand for food, beverages and supplements that enhance health and wellbeing. Growth initiatives have included acquisitions like Protexin and Biopolis, organic capacity investments to expand probiotics production at our Valencia facility, and our recently-announced joint venture and previous partnership with Vland. With the revenue contribution from the addition of Deerland, annualized revenue for Health & Wellness will exceed $500 million.
The transaction, which is subject to regulatory approval, is expected to be completed in the coming weeks; when that occurs, Deerland’s approximately 320 colleagues will transfer to ADM.
With the acquisition of GEM Plastics Limited, Schütz is expanding its product portfolio in the field of industrial packaging and further increasing its performance for customers in Ireland and the United Kingdom.
Schütz GmbH & Co KGaA, a leading manufacturer of high-quality transport packaging, has signed a purchase agreement for 100 % of the shares in GEM Plastics Limited of Ireland end of last week. The company, based in Cavan, Republic of Ireland, has been manufacturing plastic industrial packaging for over 30 years. It supplies in particular the chemical, lubricant, food and beverage, and pharmaceutical industries. In addition to established plastic drums and jerrycans, the extensive product range also includes specific packaging solutions for individual customer requirements.
Schütz has been represented in the United Kingdom (Worksop) since 1992 and in Ireland (Killala) since 2000. From these two locations, customers are supplied promptly and effectively with IBCs and plastic drums. With the acquisition of GEM Plastics Limited, the globally operating company in the industrial packaging sector is once again significantly expanding its product range for customers in Ireland, the United Kingdom and beyond. In addition to the established IBC and plastic drum product groups, they will now also benefit from a wide range of jerrycans.
Elopak is reinforcing its presence in growth markets and investing in profitable growth with the acquisition of Naturepak Beverage Packaging Co Ltd, the leading gable top fresh liquid carton and packaging systems supplier in the MENA region.
Elopak ASA has signed a Share Purchase Agreement to acquire 100 % of Naturepak Beverage from Gulf Industrial Group Company Plc and Evergreen Packaging International LLC, a wholly owned subsidiary of Pactiv Evergreen Inc.
Naturepak Beverage is the leading provider of fresh liquid carton and packaging systems in the MENA region with local production facilities in Morocco and Saudi Arabia, which will be integrated into Elopak’s global production network. Present in 16 countries, Naturepak Beverage has an annual production capacity of 2.7 billion cartons across various product sizes and its customers are global blue chip FMCG players and strong regional champions.
The acquisition will reinforce Elopak’s position in the region and is an important milestone in management’s ambitions to target 2-3% organic revenue growth, deliver inorganic opportunities and grow its global footprint by entering new geographies.
Thomas Körmendi (Photo: Elopak)
Commenting on the acquisition Thomas Körmendi, Chief Executive Officer of Elopak, stated: “This transaction represents an important part of the growth ambitions we outlined to our shareholders during our IPO this year. I am proud to take ownership of what we deem to be one of the highest quality assets in the region and to welcome the employees of Naturepak Beverage to the Elopak family. By establishing a presence in Morocco and Saudi Arabia we can access important growth markets and deliver Elopak’s brand portfolio to key local and international players. The transaction reflects our strong commitment to growth in the Middle East and Africa”.
Following the acquisition, Naturepak Beverage will be rebranded and incorporated under the Elopak name. The acquisition provides a strategic customer base in the fresh beverage carton segment, primarily in Morocco in fresh dairy, and gives access to growth markets in an attractive region.
Going forward Naturepak Beverage’s client base will have access to a wider fresh and aseptic product portfolio and innovative, sustainable packaging solutions developed by Elopak, with Elopak leveraging its Pure-Pak® carton portfolio and utilizing its technical expertise to drive further growth across products, segments and markets.
Expanding its global distribution presence, Prinova Group LLC, a NAGASE Group Company, has entered into a definitive agreement to acquire industry expert The Ingredient House, LLC (“TIH”). TIH has a significant presence in the sweetener, polyol and specialty ingredient sectors both in the U.S. and internationally. This purchase represents another stride forward in Prinova’s long history of growth in the ingredient distribution space.
Founded in 2006 and headquartered in Southern Pines, North Carolina, The Ingredient House is a quality-focused supplier of ingredients to the global food and beverage industry. TIH has experienced substantial growth since its inception through strategic partnerships with global branded customers and offshore manufacturers. Key to TIH’s success is its implementation of and adherence to improved quality standards to consistently deliver the global supply chain needs of its food and beverage customers.
Headquartered Carol Stream, IL and privately owned for 40 years, Prinova was acquired by Nagase & Co., Ltd., based in Tokyo, in 2019. Since then, Prinova has experienced substantial growth in flavour manufacturing, premix manufacturing, and its flagship ingredient distribution offering. This acquisition is an opportunity for Prinova to further leverage industry relationships and integrate The Ingredient House’s unique supply chain advantages into its existing business.
About The Ingredient House, LLC Founded in 2006, The Ingredient House, LLC is a global supplier of high-quality polyols, high intensity sweeteners, and other specialty ingredients for the food & beverage industry. Utilizing a unique, solutions-oriented business model, TIH is a trusted strategic sales, marketing, and quality partner to its global ingredient manufacturing relationships and world-class customer base. TIH has earned a reputation for its ability to deliver creative solutions to supply chain challenges while offering best-in-class quality and customer service.
About Prinova Group LLC and Nagase & Co. Ltd. Headquartered Carol Stream, IL, Prinova has been providing high-quality ingredients, flavors, nutrient premixes, and value-added solutions to the food, beverage and nutrition industries for over 40 years. As a world-leading distributor of functional ingredients, Prinova utilizes a global network to help its customers gain the strategic advantage they need to drive their business forward. Prinova was acquired by Nagase & Co., Ltd. (“Nagase”) in 2019. Founded in 1832, Nagase offers global trading services of chemicals, plastics, electronics materials, cosmetics, and food ingredients. With more than 100 Group companies in 30 countries and regions, Nagase offers unique values to customers by combining group functions of manufacturing, processing, and R&D.
New company formed as KPS Capital Partners completes its acquisition of Crown Holdings Inc.’s EMEA food and consumer packaging business
Eviosys, a leader in the metal packaging industry with innovation and sustainability at its core, launches today as a newly formed, independent company. The business is Europe’s largest manufacturer of steel and aluminium food packaging with hundreds of global and regional food and consumer products customers.
Eviosys will focus on unique, smart packaging solutions by combining a rich heritage with an enhanced, market-leading focus on innovation, research and development. Sustainability is at the heart of Eviosys, which has a product portfolio centred on 100 % recyclable metal substrates. The Company will champion the evolution of truly sustainable packaging, developing solutions for its customers that help them meet their sustainability goals while also protecting the planet, people and communities around us.
Eviosys, with seven design studios and three laboratories across Europe, will continue its leadership role in smart packaging solutions by offering exciting, innovative ways to help customers differentiate from the competition and capture opportunities for growth.
Eviosys has the largest manufacturing footprint in the region, with 6,300 employees in 44 manufacturing facilities across 17 countries in Europe, the Middle East and Africa (EMEA). With its strategically located manufacturing facilities, Eviosys will continue its commitment to uncompromising product quality, preserving products and promoting the reputation of local and international brands in over 100 countries worldwide.
Tomás López, an industry executive with decades of experience leading packaging businesses, will lead Eviosys as its new Chief Executive Officer. Mr. Lopez previously served as CEO of Mivisa prior to its acquisition by Crown Holdings in 2014.
Refresco, the world’s largest independent bottler for retailers and A-brands in Europe and North America, announces it has entered into an agreement with The Coca-Cola Company to acquire three of its production locations in the United States. This transaction is subject to regulatory approval.
Hans Roelofs, CEO Refresco, comments: “The ongoing trend of A-brands outsourcing their production capabilities continues to provide opportunities for us as an independent beverage solutions provider. With manufacturing and supply chain being at the heart of our business, the acquisition of three Coca-Cola facilities in the US is another step forward in our growth strategy.”
Brad Goist, COO Refresco North America, adds: “Adding three hotfill production sites to our footprint is a great opportunity to further enhance our offering. I am convinced that our Retail and A-brand customers across North America will be able to benefit from our extended capabilities and broadened geographical footprint.”
The prospective transaction includes three production facilities in Truesdale (Missouri), Waco (Texas) and Paw Paw (Michigan), and involves long-term agreements for contract manufacturing activities. Refresco will become one of Coca-Cola’s strategic third-party contract manufacturers in the United States.
Strategic rationale
This acquisition is well aligned with Refresco’s buy-and-build strategy, focused on further expanding and strengthening its manufacturing footprint across Europe and North America to service both retailers and A-brands.
All three hotfill production locations are highly complementary to Refresco North America’s current manufacturing footprint. Through the acquisition, Refresco further improves its proximity to its existing customer base and expands its technological capabilities.
Transaction highlights
The transaction is subject to regulatory approval.
Refresco will finance the transaction from its existing cash position.
The financial terms of the transaction are not disclosed.
In the reporting currency, the Symrise Group achieved sales growth of 4.8 % to € 1,908 million (H1 2020: € 1,821 million). The acquisition of the Fragrance and Aroma Chemicals business from the US company Sensient in April 2021 contributed € 14.4 million. In spite of the weaker prior-year figures due to the pandemic, organic sales growth was even stronger: During the first six months, Symrise increased sales by 9.7 %. Alongside catch-up effects in the first quarter resulting from the cyber-attack in December, the good dynamic in the second quarter made a contribution. Due to the accelerating business and higher demand, sales increased organically between April and June by 8.8 %.
The Scent & Care segment
Scent & Care, the business with fragrances, aroma molecules and cosmetic ingredients, achieved very good organic sales growth of 9.0 % in the first half year of 2021. Taking currency translation effects into account, sales amounted to € 749 million in the first six months and rose significantly compared to the prior-year period (H1 2020: € 711 million). The Fragrance and Aroma Chemicals business from Sensient contributed € 14.4 million to this. Particularly during the second quarter, normalization of consumer demand began to emerge as battling the pandemic progressed. Sales in the Fine Fragrances business unit and Cosmetic Ingredients division increased strongly.
The Flavor & Nutrition segment
The combined Flavor & Nutrition segment increased its sales organically by 10.1 %. Sales in the reporting currency increased to € 1,159 million and thereby significantly exceeded the prior-year figure (H1 2020: € 1,110 million). In the second quarter, the segment recorded gradual normalization of consumer behavior. The increase in out-of-home consumption exerted a positive effect on demand for beverage products. At the same time, the trend towards healthy cooking at home and the continuing high demand in pet food solutions ensured strong growth.
Applications for beverages recorded very good organic sales growth in the double-digit percentage range. The biggest growth was generated in the US market, China, Brazil as well as Germany, the United Kingdom and Ireland.
August 3, specialty chemicals company LANXESS completed the acquisition of Emerald Kalama Chemical. The U.S.-based company is a world-leading manufacturer of specialty chemicals. LANXESS signed a purchase agreement on February 14, 2021. All required regulatory approvals have been received. LANXESS financed the purchase price of around USD 1.04 billion (EUR 870 million) from liquid funds.
In 2020, Emerald Kalama Chemical generated global sales of around USD 425 million (EUR 375 million) and EBITDA pre-exceptionals of around USD 90 million (EUR 80 million). Seventy-five percent of sales were attributable to business with specialty products for the consumer care market, especially products for flavors and fragrances as well as preservatives for use in food, household products and cosmetics. One quarter of sales originated from business with specialty chemicals for industrial applications. With the closing of the transaction, LANXESS grows by around 470 employees and the three production sites in Kalama/Washington (USA), Rotterdam (Netherlands) and Widnes (Great Britain).
New Flavours & Fragrances business unit
This second-largest acquisition in its company history elevates LANXESS to being one of the leading providers of products for flavours and fragrances for the consumer sector. Products such as aldehydes and benzoates are distinguished by their premium quality, safety and unique flavour profiles.
The main areas of application for the flavourings and fragrances are personal care products, cosmetics and exclusive fragrances, as well as food and drinks. The products in the new LANXESS portfolio encompass over 30 aroma chemicals, providing a range of earthy, floral, fruity, spicy and herbal notes.
Benzaldehyde, for example, gives items such as food, drinks, personal care products and cosmetics a sweet, almond-like flavour and fragrance. It is a key component in the synthesis of rose and jasmine fragrances in the perfume industry.
LANXESS is incorporating the flavourings and fragrances business into the newly established Flavours & Fragrances business unit led by Holger Hueppeler. “We at LANXESS have decades of experience in technology and production to reliably supply our customers with synthetic chemicals and deliver consistently high-quality ingredients that formulators of flavourings and fragrances can rely on,” says Hueppeler, who began his career in 1989 at Bayer and has amassed over three decades of experience in marketing, sales and logistics.
The new business unit will also comprise benzyl alcohol business. The product is used as an ultra-pure preservative for injection solutions and cosmetics and as a synthetic chemical. Other areas of application include the production of fragrances and flavourings and agricultural chemicals.
Nature-identical preservatives for food and household and care products
The acquisition of Emerald Kalama also enables LANXESS to significantly expand its portfolio of preservatives. Key products for the food industry include sodium and potassium benzoate under the Kalama, Purox and Kalaguard brands. They act as gentle preservatives in foods, drinks, personal care and home care products with a pH level of up to 6.5.
Sodium and potassium benzoate are used primarily as nature-identical preservatives and safely inhibit the growth of bacteria, yeast and mold. They are approved as food additives and preservatives by the U.S. Food and Drug Administration (FDA) and are used in food and drink applications. The new products make perfect additions to LANXESS’s existing range of drink stabilizing agents under the Velcorin and Nagardo brands.
Oterra™ is pleased to announce that it has closed its acquisition of SECNA Natural Ingredients Group S.L.
This is the first acquisition for Oterra, which itself was purchased by private investment firm EQT in March 2021 when Chr. Hansen divested their natural colours business. Oterra, recently announced its intention to pursue a second acquisition, namely Diana Food’s colours business.
Odd Erik Hansen, CEO of Oterra, stated, “This is an exciting time for the industry as demand for natural colors continues to increase. We expect the addition of SECNA to be a meaningful contributor to Oterra’s growth in 2021 and beyond, as we solidify our position as one of the world’s leading suppliers of natural colours. We look forward to offering both our, and SECNA’s, customers a fully integrated go-to-market service soon.”
With this acquisition, Oterra, will further enhance its value offerings to customers worldwide. Notable portfolio additions include SECNA’S anthocyanins from black carrots and grape, as well as caramel, and an organic range. After a period, the SECNA group will be fully incorporated into Oterra.
Approximately 80 SECNA employees, based in Spain and Italy, will join Oterra. This is an exciting time for Oterra, who look forward to having them on the team. “SECNA’s skilled and competent workforce stood out from the start, and I am happy to welcome them to the Oterra family,” said Odd Erik Hansen.
Refresco, one of the world’s largest independent bottlers for retailers and A-brands in Europe and North America, today announces it has entered into an agreement to acquire HANSA-HEEMANN. This transaction is subject to regulatory approval.
HANSA-HEEMANN, headquartered in Rellingen, Germany, is a family-owned, independent beverage manufacturer with five production sites spread across Germany. Its operational excellence, industry expertise and integrated value chain enable HANSA-HEEMANN to offer customers best-in-class service. The vast majority of HANSA-HEEMANN’s volume (60 %) is in mineral water, with the remaining 40 % of its volume in carbonated soft drinks (CSD). HANSA-HEEMANN serves three different market segments: private label, own brands, and contract manufacturing for A-brands. HANSA-HEEMANN employs over 800 people with an annual revenue of approximately €300 million.
Strategic rationale
Today’s announcement is a continuation of Refresco’s successful buy-and-build strategy which is a key driver of the company’s ongoing growth and value creation. With this acquisition, Refresco further enhances its position in terms of product and brand portfolio, and geographical coverage.
Acquiring HANSA-HEEMANN will bring Refresco:
Diversification of its business with additional products and capabilities, while maintaining a well-balanced business mix and customer base
Strong brands such as Fūrst Bismarck, hella and St. Michaelis
Expansion of its offering in water and CSDs
Increased presence in Germany, now offering nationwide coverage to retail customers
Acceleration of its operational excellence through HANSA-HEEMANN’s know-how in the water category
A changing market
Water is the largest category within the non-alcoholic beverage market. The landscape is highly competitive and rapidly changing with many smaller local and regional players who maintain a strong foothold. Branded players with a wide range of water products are looking for opportunities to grow with retail discounters.
In addition, the focus on sustainability continues resulting in for example, increased demand for recycled PET and reduction in operational carbon footprint.
Within this highly competitive and changing market, the acquisition of HANSA-HEEMANN will enable Refresco to enhance its presence in Germany – not only broadening relationships with German retailers, but also improving transport efficiencies and reducing CO2 emissions. Furthermore, Refresco will be able to leverage its global scale to further drive change in improving the sustainable use of resources.
Britvic acquires Plenish, plant-based drinks business
Portfolio comprises plant-based milks, cold-pressed juices and functional shots
The transaction strengthens Britvic’s offer in the high-growth plant-based milks and organic juice categories
Britvic announces the acquisition of Plenish, the plant-based milks, cold-pressed juices and shots company, and one of the most exciting brands in its category in Great Britain. Plenish joins Britvic’s portfolio of market-leading brands and strengthens the Group’s offering in the fast-growing plant-based segment.
Founded in 2012, Plenish offers a range of plant-based milks and plant-powered juice drinks all made from the highest quality, organic and sustainably sourced ingredients. The products are carried by major national grocery retailers. Plenish’s sales are further boosted by highly effective marketing and a sophisticated direct-to-consumer sales offer.
Kara Rosen set up Plenish in 2012 after looking for alternative solutions to deal with a recurring health issue. A native New Yorker, Kara moved to the UK and soon realised that there were no cold-pressed juices in the British market free of sugar. Kara decided to make her own juices and nut milks using mainly green vegetables from organic origin. Since then, Plenish has become one of the fastest growing plant-based milks brand in the UK, while its juice-led direct-to-consumer business continues to grow at over 100+ % pa. The transaction is closely aligned with Britvic’s strategy of building a portfolio of soft-drinks brands for every consumer occasion and its focus on accessing new spaces in the soft drinks category. Britvic has a long track record of successfully leveraging its scale and capabilities to grow its brands, and it will draw on this experience to fulfil the full potential of Plenish.
Britvic recognises the opportunity presented by the fast-growing plant-based drinks segment, with plant-based milks set to achieve retail sales values of over £500m by 2024. The non-soya plant-based milks market has grown more than tenfold over the past decade and it is fast becoming a mainstream category, with consumers favouring healthier, plant-based products over dairy.
The transaction also serves to strengthen Britvic’s Healthier People, Healthier Planet sustainability agenda. The Group is committed to ensuring its products help consumers enjoy life’s everyday moments, as part of a healthy, balanced lifestyle. Healthy nutrition is at the core of Plenish’s brand with a range of products containing the highest quality natural ingredients with low calories, that are certified organic by the Soil Association. As an accredited B-Corporation and a certified carbon negative business, Plenish’s approach to environment will contribute positively to Britvic’s Healthier Planet commitments.
Chr. Hansen Natural Colors, an EQT portfolio company, announces its first major transaction, after becoming a standalone company, further bolstering the company’s position as the world leader in natural colours.
Chr. Hansen Natural Colors, a world leading provider of natural colors with the widest portfolio in the industry, has announced plans to continue its strong growth acceleration with the integration of SECNA Natural Ingredients Group S.L into its portfolio.
This is the first add-on investment since being acquired by private equity firm EQT, and it significantly strengthens Chr. Hansen Natural Colors position by giving it access to SECNA Groups’ strong pigment portfolio, which notably includes anthocyanins from black carrots and grape, and caramel.
“We’re committed to continuing to find new ways to harness and share the power of nature’s true colours. This is the first of many exciting milestones for us as a standalone company. We look to enhance our value proposition and strengthen our operational platform together with the team at SECNA at a time when demand for naturally sourced colours is increasing” said Odd Erik Hansen, CEO, Chr. Hansen Natural Colors.
For SECNA Group CEO, Gabriel Muñoz, this partnership is the ideal opportunity to join forces with a like-minded established industry leader. “It’s a win–win situation as Chr. Hansen Natural Colors will add our strong pigment offerings in anthocyanins and caramel to their collection, while providing our valued customers and suppliers with access to their portfolio, technologies and market reach, which is the most extensive in the industry”.
“The combination of our colour platforms puts us in a prime position to better serve the market and our customers, and we’re looking forward to welcoming SECNA Groups’ 100 employees to the Chr. Hansen Natural Colors team” said Klaus Bjerrum, COO, Chr. Hansen Natural Colors.
The SECNA group is a holding of several companies, with a presence in Spain, Italy and Turkey.
Coca-Cola Europacific Partners will be the name of the company as Coca-Cola Amatil (Amatil) and Coca-Cola European Partners (CCEP) join together following completion of the acquisition in May.
Coca-Cola Europacific Partners will be the world’s largest Coca-Cola bottler and one of the leading FMCG companies in the world. The company will employ over 33,000 people, serving approximately 2 million customers in 26 countries.
The proposed acquisition of Coca-Cola Amatil was announced in October 2020, and was approved by Amatil’s shareholders on 16 April 2021. Following the completion of the acquisition in May, the new company name will come into use.
The company will continue to be listed on Euronext Amsterdam, the New York Stock Exchange, London Stock Exchange and on the Spanish Stock Exchanges, and will continue to trade under the symbol CCEP.
Peter West, currently Managing Director of Coca-Cola Amatil (CCA) Australia will become Vice President and General Manager for a newly created Australia, Pacific and Indonesia (API) Business Unit and will join the executive leadership team of Coca-Cola European Partners (CCEP).
The leadership of CCEP’s existing business units and central functions remains unchanged. The new business unit’s operations include Australia, Indonesia and Papua New Guinea, and New Zealand Fiji and the Pacific Islands.
The company’s name will change to Coca-Cola Europacific Partners (CCEP). CCEP will combine the strength and scale of a large, multi-national business with an expert, local knowledge of the customers we serve and communities we support.
Beloved baby food brand to join growing portfolio of better-for-you whole fruit snacks
Sun-Maid Growers of California announced it will acquire Plum Organics, a leading premium, organic baby food and kids snacks brand, from Campbell Soup Company. Terms of the transaction were not disclosed.
Plum offers a diverse portfolio of organic foods and snacks to meet the nutritional needs of babies, tots and kids. All of Plum’s products are certified organic and non-GMO.
“We’re excited to welcome Plum Organics’ nutritious line of baby, toddler and kids’ food products to our imaginative world of delicious, whole fruit snacks. Our purpose is to help mom find better-for-you food options that taste great and kids will love. Adding Plum to our innovative product lineup delivers even more choices for her and her family,” said Harry Overly, CEO and president of Sun-Maid Growers of California. “Plum is a natural fit for the Sun-Maid family given our expertise, leadership and rapid growth in healthy snacking, along with our strong emotional connection with family households. Its acquisition is an integral part of our continued dedication to providing superior products while delivering category growth. We’re committed to carrying on Plum’s mission of serving babies the very best food from the first bite.”
Chris Foley, Campbell’s President of Meals & Beverages, said, “The sale of the Plum Organics baby food brand is part of our ongoing strategic process to create even greater focus on driving growth in the division’s core categories of soup, sauces and beverages.”
Plum Organics was founded in 2007 by a group of parents on a mission to give the very best food to their little ones. Campbell acquired Plum in 2013.
The anticipated closing date for this transaction is Spring 2021.
Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, announced that it has reached an agreement to acquire the flavour and fragrance (F&F) bio-based intermediates business of Amyris, Inc., which extends DSM’s offerings in Aroma Ingredients with bio-based ingredients for the flavour and fragrance and cosmetics industries.
DSM will acquire the business currently consisting of seven intermediate products (four already generating meaningful sales and EBITDA, two just launched and one under development) which will be added to DSM’s existing Personal Care & Aroma Ingredients activities.
DSM will acquire the business for an upfront consideration of US$ 150 million, which represents an estimated 15x EV/EBITDA 2021 multiple. Amyris will share in the EBITDA growth over the period 2021-2024 of certain of the activities (mainly the products just launched/ under development), receiving additional earn-outs equal to 9x the realized EBITDA in 2024, which is estimated to result in a total earn-out amount of US$ 100-150 million. DSM and Amyris will continue their R&D partnerships.
In recent years DSM acquired Amyris’ Farnesene business and technology for nutritional and F&F ingredients, as well as its Brotas (Brazil) biotechnology manufacturing facilities. DSM has been producing several F&F products for Amyris in this facility. Acquiring now the entire F&F business from Amyris is synergetic for DSM as it:
Further strengthens DSM’s globally-leading biotechnology base with F&F intermediate products and increases the scale of DSM’s biotechnology activities in nutritional ingredients;
Broadens DSM’s existing offerings in Aroma Ingredients with additional biotechnology-based products for DSM’s – already existing – F&F customer base;
Strengthens DSM’s sustainability profile further, as bio-based F&F ingredients offer additional alternatives to chemistry-based products as well as botanically-sourced ingredients.
The fruit, starch and sugar group AGRANA is extending its presence in Asia and acquiring the fruit preparations business of the local food producer Taiyo Kagaku Co. Ltd. AGRANA Fruit Japan Ltd. will be starting with the production of fruit preparations on 1 April and therefore now includes a fourth Asian country in addition to China, India and South Korea. As the global leader in fruit preparations, AGRANA now maintains 26 production sites in 20 countries.
The fruit preparations plant in question is located in Yokkaichi, in southern Japan, around 100 km east of Osaka. From there it will supply customers in Japan’s bakery products sector as well as dairies and ice cream producers. Japan has a constantly growing market for fruit preparations with a volume of around 60,000 metric tons and forecast annual growth of 2-3 % a year.
“The acquisition of this Japanese fruit preparations plant from TAIYO is an important step as part of our expansion in Asia. The growing Japanese market for fruit preparations is characterised by high quality demands and innovations. This ties in perfectly with our high quality standards and the innovative direction as the global market leader in the fruit segment, where we satisfy the needs of our customers with a wide portfolio – ranging from standard fruit preparations for yoghurts and ice creams to premium-segment fruit solutions such as sauces, condiments, fillings and smoothie bases,” explains the CEO of AGRANA Beteiligungs-AG, Johann Marihart.
Fruit preperations at AGRANA AGRANA’s fruit preparations contain top quality fruit which is either puréed or diced and used in dairy products or in the ice cream and bakery products industries. These products are individually designed by AGRANA on the basis of close development-related collaborations with customers. In addition to fruit preparations, AGRANA also offers innovative preparations with “brown flavours” such as caramel, coffee or vanilla as well as so-called inclusions (e.g. chocolate balls). In addition to the food processing industry, AGRANA also supplies its fruit preparations to fast-food companies and food service providers.
AutoCoding’s software solution automates and integrates in-line packaging systems, such as labelers, scanners, coders and checkweighers
JBT Corporation, a global technology solutions provider to high-value segments of the food and beverage industry, has announced the acquisition of AutoCoding Systems Ltd, a leading provider of software solutions for the automated set-up and control of end-of-line packaging devices. AutoCoding extends JBT’s capabilities in packaging line equipment and associated devices, including coding and label inspection and verification. The company is headquartered near Runcorn, UK, with additional operations in the US and Australia, and generates approximately $7 million in annual revenue.
AutoCoding’s central command software solution integrates and automates the use of in-line packaging devices, such as coders, scanners, labelers, and checkweighers, reducing manual inspection and downtime for line configuration. While AutoCoding is scalable across JBT FoodTech’s diverse end markets, it provides a particularly strategic fit with JBT’s Proseal business where its tray sealing equipment begins the end-of-line process.
“AutoCoding’s offering embodies JBT’s broader mission to make better use of the world’s precious resources by providing a solution that substantially enhances our customers’ success. AutoCoding helps its customers reduce food waste, ensure complete and accurate food packaging information, and facilitate traceability and food safety,” said Brian Deck, JBT’s President and Chief Executive Officer. “The acquisition also expands our capabilities in the large and growing global market for in-line coding and inspection solutions, which includes hardware and software for food & beverage, pharmaceutical, and nutraceutical customers.”
JBT is a leading global technology solutions provider to the food & beverage industry with focus on proteins, liquid foods and automated system solutions. JBT designs, produces and services sophisticated products and systems for multi-national and regional customers through its FoodTech segment. JBT employs approximately 6,200 people worldwide and operates sales, service, manufacturing and sourcing operations in over 25 countries.
Scholle IPN, a leading global supplier of flexible packaging solutions, announced that they have completed the purchase of Bossar, a global supplier of flexible horizontal form-fill-seal packaging equipment.
The new business combination will leverage the combined capabilities of both businesses to provide one stop shopping for vertically integrated, sustainable solutions for the global flexible packaging market.
The company will retain the Bossar brand and will continue to utilize Bossar’s operational headquarters in Barcelona, Spain, and their manufacturing facility in India. The combined business has operations across Europe, Russia, China, India, Australia, Brazil, Chile, Canada and the United States.
Nestlé USA announced that it has acquired Essentia Water (“Essentia”), a premium functional water brand headquartered in Bothell, Washington. Essentia pioneered ionized alkaline water more than twenty years ago and is the leading brand in that space in the U.S. Essentia’s 2020 sales were USD 192 million.
This transaction is part of Nestlé’s continued transformation of its global water business, which was announced in June 2020. The company is sharpening its portfolio to focus on international premium and mineral water brands and healthy hydration products, such as functional water. This follows the agreement to sell Nestlé’s U.S. and Canadian regional spring water brands, purified water business and beverage delivery service announced in February.
Bucher Unipektin is acquiring 100 % of the German vacuum drying system supplier Merk Process GmbH. With the acquisition Bucher Unipektin further strengthens its vacuum and freeze drying capabilities.
Merk Process was founded in 1994 by Dieter Merk, is privately owned and located in Laufenburg (Germany). The company supplies vacuum drying systems for the food, pharmaceutical and chemical industries and generated net sales of EUR 4 million in 2020. Its expertise is based on many years of practical experience in plant construction combined with efficient, innovative engineering skills. With the transaction Mr. Merk found an attractive and sustainable succession solution not only for his customers but also for the employees of Merk Process.
Together with Merk Process, Bucher Unipektin is in the position to supply a broader range of innovative and sound drying technologies and to provide an enhanced customer service offering to the vacuum and freeze drying customers of the two companies on a global base.
Following the transaction, the drying activities of both companies will be concentrated at Merk Process’ site in Laufenburg (Germany). Dieter Merk will actively contribute and assist the combining of the two companies’ technologies and knowhow as a consultant in the next years.
Bucher Unipektin, a Swiss based business unit of Bucher Industries AG, is a globally leading manufacturer of plants and components for juice and beer production, as well as vacuum and freeze drying for the food industry. The business unit is operating globally with production sites in Switzerland, Spain and China supported by a global distribution network and own sales and service organisations in Poland, Ukraine, Russia, New Zealand and Mexico.
