European private equity investor Ambienta has completed the acquisition of TasteConnection, a UK manufacturer of natural seasonings and flavourings for food applications.
Founded in 2002, TasteConnection is a manufacturer of customised seasonings and flavourings for food processors and food ingredients producers, with a core focus on the snacks and savoury markets such as crisps, chips and ready-meals.
The deal marks the fourth acquisition by Ambienta in the last two and a half years, as it continues to build its Nactarome subsidiary – a European platform in natural colours, flavours and ingredients for the food and beverage sector.
Ambienta says the acquisition will strengthen Nactarome’s UK presence and marks the group’s entry into the natural seasoning category and the British and European snacks market. The private equity firm aims to capitalise on both sustainability and clean label trend impacts on the snacks and seasoning markets.
“We look forward to develop the leading-edge flavouring and seasoning solutions of our new group member not only in the UK but also in many other geographies where Nactarome operates,” said Hans Udo Wenzel, founder of AromataGroup and executive chairman of Nactarome.
As part of the deal, Nactarome will gain access to TasteConnection’s close manufacturing site, enabling it to create an industry hub in the UK.
According to Ambienta, with its support, Nactarome has grown its revenues in excess of €120 million, expanded its manufacturing footprint to 12 plants in Italy, the UK, France and Belgium and built a customer base of over 4,200 clients across more than 100 countries.
Andrew Sainsbury, co-founder of TasteConnection, said: “We have ambitious growth plans for TasteConnection; this move was the logical next step in securing our future and ability to provide our customers with cost-effective, industry leading seasonings and provenanced ingredients.”
Mauro Roversi, partner and chief investment officer at Ambienta, added: “It remains our firm belief that natural ingredients represent solid long-term growth drivers in the food industry in Europe. TasteConnection represents a fantastic opportunity for Nactarome to capitalise on these trends whilst also ensuring the group continues to grow in the UK market and deliver financial and sustainability returns for our investors.”
© FoodBev Media Ltd 2023