SPAIN – The Iberchem Group, a Spain-headquartered flavor and fragrance house, has completed the acquisition of Flavor Inn Corporation in Malaysia and Nanchang Duomei Bio-Tech (Duomei), located in China.
Flavor Inn is a Malaysian flavour manufacturer offering tailored-made solutions to its wide portfolio of customers in the South East Asian region.
The company specialises in the development of both natural and artificial flavours for beverages, savoury, bakery and dairy products, and confectionery.
Based in Nanchang, capital of Jiangxi province in China, Nanchang Duomei Bio-Tech has been in the business of flavour manufacturing for nearly 12 years, servicing the Chinese flavour industry.
The two acquisitions bring the number of buyouts that Iberchem has closed to three in the last two years. Last year, Iberchem purchased South Africa’s Versachem, strengthening the company’s efforts of increasing its flavour offerings.
Commenting on the acquisitions, Ramón Fernández, chief executive officer of Iberchem Group stated: “We are pleased to welcome Duomei and Flavor Inn within the Scentium family.
“This represents another key step in the strategic expansion of Scentium (the flavour division of the Iberchem Group) in Asia, and also in the roll out of our M&A strategy at a Group level.
“We are confident that both companies will add value and expertise to our existing Flavour offer in China and South East Asia.
“Both Duomei and Flavor Inn share Scentium’s customer-centric culture and values. We are expecting a smooth integration of their activity into our organization in the upcoming year.”
Eurazeo’s 2017 investment in Iberchem has been instrumental to the company’s recent expansions especially through the group’s merger and acquisition strategy initiated last year.
The group has also managed to fully revamp the production plant of its flavour unit in Spain, and now expects to increase the flavour offerings of the company by almost 40%.
The company also reported double digit growth in revenue for the full year ended December 31, 2019. During the year, Iberchem’s net revenues was €174 million, representing a net increase of 19%.
