Sector News

Firmenich acquires minority stake in flavours firm Robertet

September 26, 2019
Food & Drink

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

Related News

October 24, 2020

Cargill to construct a $150m biodiesel plant in Belgium

Food & Drink

Cargill is investing $150 million in a new plant that produces advanced biofuels from waste and residues, in an effort to further promote circular economy.

October 24, 2020

European Parliament votes against ‘veggie burger ban’

Food & Drink

The European Parliament has voted to reject the ban on plant-based products using names typically associated with meat products, but has voted in favour of a plant-based dairy ban.

October 24, 2020

Chili-shaped portable smartphone device easily identifies pepper’s heat level

Food & Drink

Researchers have developed a portable device that detects how much capsaicin a pepper contains with the help of a smartphone.

Send this to a friend