SOUTH AFRICA – The Iberchem Group, a Spain-headquartered flavour and fragrance company, has announced that it will be combining its three brands in South Africa i.e. Iberchem, Scentium and Versachem to operate under the name of Iberchem South Africa, in a bid to expand its presence in the South African market.
The announcement by the company comes two years after the group acquired 70% of Versachem, a company specialising in food colourants and seasonings.
The group recently bought the remaining 30%, thereby fully integrating Versachem’s activity into the Group’s portfolio.
All three divisions will be temporarily accommodated in Versachem’s current offices in Pretoria, north of Johannesburg, until a new location can be found.
The Iberchem Group first set foot in South Africa in the early 2000s.
“The moment had come to establish ourselves permanently on the market to improve our customers’ experience even more. Proximity is a key element in our service offer. We strive to be as close as possible to our clients, which means they benefit from more agility when developing their product and from faster delivery times,” said Ramón Fernández, CEO of Iberchem Group.
Iberchem South Africa will be managed by Mr. Quentin Questiaux, who joined the company in May. He is well known on the African market, with a proven track record in the flavour and fragrance industry.
In the coming months, Iberchem South Africa will also gradually welcome new members to both Iberchem and Scentium.
“When it comes to flavours and fragrances, South Africa is a vibrant market that has always been at the forefront of trends,” said Mr.Questiaux.
“This is why we are building a team that is both dynamic and qualified in order to fulfil the country’s standards. Leveraging what has already been accomplished on the market, I’m highly enthusiastic and optimistic about the future of this new branch,” he added.
According to a report by Mordor Intelligence, South Africa’s food flavour market is projected to grow at a CAGR of 5.1% in 2020-2025 while in the greater Africa it is projected to register a CAGR of 6.18% during the same period.
The Grand View Research in a report has highlighted that the global flavours and fragrances market size was valued at US$ 20.75 billion in 2018 and is expected to expand at a CAGR of 4.7% in 2019-2025.
In February, Iberchem, completed the acquisition of Flavor Inn Corporation in Malaysia and Nanchang Duomei Bio-Tech (Duomei), located in China.
The two acquisitions bring the number of buyouts that Iberchem has closed to three in the last two years.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE
