Firmenich has agreed to acquire France-headquartered ingredients supplier Les Dérivés Résiniques et Terpéniques (DRT) from private equity firm Ardian.
Headquartered in Dax, France, DRT develops a range of plant-based and naturally-derived ingredients from terpenes and rosin derivatives – such as wood rosin resins – which can be used as texturisers in beverages, chewing gum and personal care products.
DRT operates nine production facilities worldwide – four in France, two in the US, two in India and one in China – and the company registered a turnover of €550 million in its most recent annual results.
DRT’s ingredients are mainly sourced from pine trees, and Firmenich states that the acquisition will significantly enhance its portfolio of ‘renewable’ ingredients.
Patrick Firmenich, chairman of the board at Firmenich said: “I am thrilled to bring DRT’s unique capabilities for developing sustainable ingredients to Firmenich.
“This proposed combination builds on our business partnership of more than 30 years and our established track record of successful co-development in a long-standing joint venture.
“We thank Ardian and Tikehau Capital for their strong stewardship and we are delighted to welcome all DRT colleagues to Firmenich. We share the same passion for our customers, sustainability, as well as strong family values.”
Laurent Labatut, CEO of DRT, added: “We share a long-standing relationship with Firmenich as it is one of our main partners.
“Firmenich is renowned for its cutting-edge research that feeds into the broadest and finest ingredients palette. Our joint innovation capabilities would open up new opportunities to support our clients across our entire product portfolio.
“Together we look forward to opening a new chapter with a shared ambition to design best-in-class sustainable ingredients for our customers.”
By Martin White
The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.
US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.
Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.