Naturex has acquired Valentine Agro Ltd., an India-based company specializing in fruit and vegetable powders and natural colors.
Naturex (Avignon, France) has acquired Valentine Agro Ltd., an India-based company specializing in fruit and vegetable powders and natural colors, as well as formulation and spray drying, for the food and beverage industry. The company has two production sites located near Mumbai.
Naturex says the acquisition is part of the company’s strategy to develop its business in emerging countries. It says the acquisition will “significantly enhance” its sales coverage in India, will allow the company to benefit from the region’s raw materials, and will allow the company to become a local producer in India-a site that supplements the company’s regional production centers in Europe and the United States, especially for natural colors. The acquisition will also help Naturex to promote its product ranges in India, while developing a close relationship with India’s food industry, it says.
“The acquisition provides us not only with a dynamic commercial presence in India but also allows us to become a producer in this country in order to best respond to the local issues that our clients face,” said Naturex’s president and CEO, Jacques Dikansky, in a press statement. “The tremendous growth potential of Valentine in a market enjoying high growth, combined with Naturex’s technical and scientific expertise, will open great opportunities for us.”
The acquisition is Naturex’s third since its capital increase in October 2011.