IFF acquires majority stake in ice-cream ingredients maker
March 14, 2019
IFF says its’ Frutarom division has acquired a 70% stake in Leagel S.rl. (San Marino), a maker of ice cream and gelato ingredients in the European market. The company is family-owned and produces taste, texture and toppings that are sold to ice cream and gelato shops. Financial terms of the deal, including purchase price, were not disclosed.
“The purchase of the stake in Leagel aligns well with our strategic acquisition in 2017 of SDFLC Brasil Indústria E Comércio Ltda. (SDFLC), a Brazilian producer of taste solutions for ice creams and desserts,” said Amos Anatot, president/Frutarom division at IFF. “We see great opportunities to combine these companies and create a global platform for our ice cream ingredients business, expand our geographic reach and leverage cross-selling opportunities.”
Leagal has 61 employees and customers in 25 European countries. IFF has an option to purchase the remaining 30% stake in Leagal after three years.
By Vincent Valk
Source: Chemical Week