Firmenich has acquired a 17% minority stake in flavours and fragrance firm Robertet from First Eagle Investment Management, for a price of €683.30 per security.
France-based Robertet produces a wide range of flavours for customers in the food industry, and operates 15 manufacturing sites around the world.
Firmenich said in a statement that it may consider taking a controlling interest in the company ‘should it be invited to do so’, though also stated that it was willing to be a passive long-term stakeholder in Robertet for the time being.
Patrick Firmenich, chairman of the board of Firmenich said: “Firmenich has the greatest respect for Robertet, with its family values, long term vision of the industry and leading capabilities in natural ingredients.
“As a long-term oriented shareholder, this investment reflects Firmenich’s commitment to best support Robertet’s continued growth.”
Gilbert Ghostine, CEO, Firmenich added: “With its strong naturals portfolio in Perfumery, Flavors and Ingredients, Robertet is well-positioned to benefit from consumers’ continued demand for authentic natural products.
“This investment is fully in line with our vision for sustainable and natural solutions.”
This latest purchase follows the company’s acquisition of a minority stake in China-based flavours firm ArtSci in June, which boosted its presence in the Chinese market.
By Martin White
Source: FoodBev
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