USA – Global manufacturer of colors, flavors and fragrances, Sensient Technologies Corporation has entered into a definitive agreement to sell certain assets related to the production of its yogurt fruit preparations product line to Frulact, for an undisclosed sum.
Frulact is an industry company specialized in fruit processing and is headquartered in Maia, Portugal. As a result of the transaction, Sensient said in a statement that it will be named a core supplier of flavors, colors, and other related products used by Frulact in its fruit preparation business.
The transaction is expected to close in the third quarter of 2020 and comes few days after the company announced that it had agreed to sell its digital ink business, Sensient Imaging Technologies and certain other assets related to the production of inks to Sun Chemical and its parent company DIC Corporation.
The divestment are part of the company’s efforts geared towards redifning its portilio. Sensient Technologies had in October last year unveiled plans offloading its inks, fruit preparation and fragrance business lines to further solidify its strategic focus and maximize its investments in core businesses while improving overall product portfolio as well as growth prospects.
“Sensient previously announced three divestiture targets; this divestiture is the second transaction that has progressed to the signing of a definitive agreement,” said Paul Manning, Sensient’s Chairman, President, and Chief Executive Officer.
“I am pleased that we have been able to reach agreement on the sale of the inks business and the yogurt fruit preparations product line which will allow us to focus on our core food and personal care product lines.
“I look forward to partnering with Frulact as a core supplier to ensure the continued growth and success of their fruit preparation business.”
Frulact is a global ingredients supplier. Sensient said that the companies will work together to ensure an efficient transition of the product line for Sensient’s current yogurt fruit preparations customer base.
Frulact supplies fruit preparations, plant based and other specialty ingredients for food and beverages from its production bases in Europe, North America and Africa.
In May this year, the company was acquired by global private investment house, Ardian. At the time of the acquisition, Frulact said that it will work together with Ardia to implement a strategic plan to accelerate growth, business expansion, and talent development.
Frulact has also acquired 5ensesinfood, S.A. a plant-based ingredient manufacturer, that develops and manufactures patented process ingredient for a wide range of plant-based food applications.
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