ITALY – International Flavors & Fragrances Inc has said that its Frutarom division has acquired 70% stake in in Leagel S.r.l. (“Leagel”), a leading producer of ice cream and gelato ingredients in Europe.
IFF said it retains an option for the residual 30% stake in Leagel to be exercised after three years.
Leagel is a family-owned company based in San Marino, Italy and specializes in artisanal taste, texture and toppings sold directly to ice cream and gelato shops.
It has 61 employees serving 1600 direct customers and distributors, with a geographic reach that includes 25 countries in Europe.
The Company’s portfolio includes a wide spectrum of offerings, from individual artisanal ingredients to a full suite of products and equipment for the gelato and ice cream retailer.
“The purchase of the stake in Leagel aligns well with our strategic acquisition in 2017 of SDFLC Brasil Indústria E Comércio Ltda. (“SDFLC”), a top Brazilian producer of taste solutions for ice creams and desserts,” said Amos Anatot, President of IFF’s Frutarom Division.
“We see great opportunities to combine these companies and create a global platform for our ice cream ingredients business, expand our geographic reach and leverage cross-selling opportunities.”
Frutarom bought 80% share in Brazilian ice cream maker SDFLC for US$33 million with an option for the purchase of the balance of share in two and a half years.
At the time, SDFLC was said to be building a new site including state-of-the-art R&D laboratories and an advanced automatic production platform to double its production output.
IFF acquired the Israel-based flavours rival Frutarom for US$7.1 billion last year in a deal that the company said would establish the company as the largest natural flavours and ingredients company in the world.
Frutarom develop, manufacture and market an extensive variety of flavors and ingredients catered to customers in a range of industries: food, beverage, flavor, fragrance, pharmaceutical, nutraceutical, food additive, and cosmetic.
The deal for Frutarom came soon after IFF’s sector rival Givaudan agreed to acquire a 40.6% stake in French ingredients producer Naturex for US$645.66 million.
