12 Feb 2018 --- Sensient Technologies Corp. has acquired the natural color business of Peruvian natural food and ingredient maker GlobeNatural. The transaction is expected to close in the Q1 of this year.
Alpaca textile conglomerate Michell Group owns GlobeNatural. The company has been sourcing and manufacturing raw materials including cochineal derivatives, annatto derivatives, turmeric derivatives, anthocyanins and chlorophyll for natural coloring.
The acquired business will operate as Sensient Natural Colors Peru S.A.C. Sensient indicated the new company would help expand its reach in the growing natural foods segment.
“This acquisition is an important component of our ‘seed to shelf’ initiative in food colors. Eighty percent of food products launched globally use natural colors and coloring foodstuffs and we anticipate that this market will continue to grow. We will continue to innovate and expand our natural color supply chain portfolio,” says Paul Manning, chairman and chief executive officer of Sensient Technologies.
“Peru is not an important end market for food color, but it is a very important producing country. It is particularly known for Annatto and Carmine color production, but also anthocyanins used in coloring foods,” David Rigg, Director of Global Food Marketing at Sensient told FoodIngredientsFirst.
“Globally, the move from synthetic colors to those from natural sources is a key long-term trend in the food industry. In Europe, the market is already essentially a natural color market and now moving toward coloring foods. As the leading supplier of food color in the world, Sensient’s vertical integration strategy will lead to long-term cost-in-use improvement along with supply chain security and transparency improvement. All three are increasingly important to food manufacturers and consumers.”
Sensient is active across the value chain for colors from natural sources. We have expanded our agronomy program with the goal of producing higher pigment botanical color material while also ensuring responsible and sustainable farming practices,” he explains.
The cost of the acquisition and integration plans have not yet been disclosed.
Just last week, FoodIngredientsFirst reported on Sensient expanding their range of organic coloring foods. You can read the full story here.
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