Iberchem Group has completed the acquisition of Flavor Inn Corporation and Duomei, two flavour companies located in Malaysia and China respectively, as it aims to expand its business in Asia.
The transactions mark Iberchem’s latest efforts in its merger and acquisition strategy, initiated following the purchase of a majority stake in South Africa’s Versachem in 2018.
Flavour Inn and Duomei brings Iberchem’s total number of acquisitions to three, since the firm received investment and formed a relationship with European private equity firm Eurazeo in 2017.
The transaction, which was made for an undisclosed sum, was carried out by Scentium, the flavour division of the Iberchem Group.
Founded in 1996, Flavor Inn specialises in the development of both natural and artificial flavours for beverages, savoury, bakery and dairy products, and confectionery.
Nanchang Duomei Bio-Tech (Duomei), meanwhile, was established in 2008 and offers a portfolio of liquids, powders and pastes, which can be applied to sectors such as dairy, candy, beverage, baking and liquor.
Spanish flavours and fragrances producer Iberchem recently announced its full year results with net revenues of $174 million, representing a net increase of 19%.
Ramón Fernández, CEO of Iberchem Group, said: “This announcement represents another key step in the strategic expansion of Scentium in Asia, and also in the roll out of our M&A strategy at a group level.
“We are confident that both companies will add value and expertise to our existing flavour offer in China and South East Asia. Both Duomei and Flavor Inn share Scentium’s customer-centric culture and values. We are expecting a smooth integration of their activity into our organization in the upcoming year.”
In October 2018, the firm inaugurated a new production facility in Bangkok, Thailand, its fourth manufacturing site in Southeast Asia. The new facility was intended to build upon the recent commercial success experienced in the region.
A year later, Iberchem completed the construction of a new R&D centre at its head office, adding over 3,000 square-metres of facilities dedicated exclusively to fragrance technologies. The group also fully revamped the production plant of its flavour unit in Spain, expecting to increase the flavour offerings of the company by almost 40%.
© FoodBev Media Ltd 2020
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entry 11 September – enter now!