Protein ingredients supplier Essentia has acquired Danish-based manufacturer Scanflavour A/S. The acquisition unites two industry-leading protein companies and expands and strengthens Essentia’s global presence in protein solutions. Financial details of the deal have not been disclosed.
According to Essentia, the move is a “major strategic step” that would likely “strengthen its position as the leading global manufacturer of animal-based protein ingredients.” Essentia is owned by the Lauridsen Group Incorporated (LGI), has an annual turnover of US$220 million and with a workforce of 500 employees, and is commercially present in over 65 countries.
CEO and President of Essentia, Asger Jacobsen says: “This transaction reinforces our strategic focus on growing our global presence. With the strong complementary fit in regards to the customer base, product range and technologies, we expect to capture several operational efficiencies, necessary to deliver sustainable and profitable growth. We have great respect for Scanflavour and the products they have developed.”
Essentia also believes that acquisition will secure increased access to the fast-growing international protein markets.
Customers will benefit from working with the industry’s leading manufacturer of animal-based protein solutions offering technical support on a global scale, says Essentia.
Before the acquisition, effective 1st June 2018, Palsgaard, the Danish emulsifier supplier, was the majority shareholder of Scanflavour. They will continue to distribute products from Scanflavour to the dairy segment.
“We look forward to working with Palsgaard to develop the dairy market with the newly developed products from Scanflavour,” adds Jacobsen.
Søren S. Møller, Director for Customer Strategy at Essentia, tells FoodIngredientsFirst: “We have an information meeting later today with the company, our employees don’t know the ins and outs of the deal yet. There isn’t much else to share right now, on top of what was announced in the press release yesterday. We hope there will be more to add later today.”
When approached by FoodIngredientsFirst, Scanflavour remained tight-lipped on the situation. “We don’t know much else as a company, for us, it’s very early days, so we have nothing more to add on the acquisition news,” says a spokesperson.
In December, at FiE in Frankfurt, FoodIngredientsFirst spoke with Jacobsen, who discussed the company’s recent branding and repositioning. “We have a new focus because we are known for being experts and having our strong points in meat and savory, our animal-based proteins, and we’re refocusing to move into other areas as well,” he says. These areas include meat snacks, general nutrition products, the increased proteins trend and generally helping customers with challenges and opportunities they have. You can view the full video interview with Jacobsen here.
By Elizabeth Green
Source: Food Ingredients First
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