DENMARK – World’s largest provider of naturally sourced colors Oterra has expanded its presence in North America with the acquisition of a New Jersey-based supplier of colors and antioxidant ingredients Food Ingredient Solutions.
The acquisition which includes two manufacturing facilities in Teterboro and Marshfield, Mo is Oterra’s first in the United States since it was acquired by private equity firm EQT in 2021.
“North America is one of the fastest-growing natural colors markets, and this acquisition puts Oterra in a great position to further support our customers in the conversion toward natural colors,” said Cees de Jong, Chairman of Oterra.
Jeff Greaves, founder and chief executive officer of Food Ingredient Solutions, in a statement, expressed his excitement that his company is set to become a part of Oterra.
“We have a strong local presence and great customer relationships, and as Oterra we will be able to offer our customers access to the most extensive portfolio of natural colors in the world,” Greaves added.
The acquisition is Oterra’s third in the past year. This past September the company announced an agreement to acquire the Diana Foods natural coloring business from Symrise AG.
Oterra announced on Dec. 29 that it has closed its acquisition of Diana Food’s color business from Symrise AG.
With the acquisition complete, Oterra said it will now embark on working to fully integrate Diana Food’s natural food color business into its portfolio.
The Diana Foods transaction includes facilities in Cossé, France, and Holbeach, United Kingdom, and gives Oterra a total of 10 production sites.
“Diana Foods is the king of red beet, having grown them for natural coloring for more than 30 years,” said Odd Erik Hansen, chief executive officer of Oterra.
“Their innovation and expertise will be strong additions to our portfolio. I look forward to not only offering Oterra’s customers a wider portfolio, but also having the opportunity to open the industry’s most comprehensive portfolio up to existing Diana customers.”
The acquisition of Diana Food’s color business follows Oterra’s acquisition of SECNA Natural Ingredients Group SL.
SECNA Natural Ingredients Group SL is a processor of colorings sourced from anthocyanins, concentrated juice, grape juice, and caramel.
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