Sensient Technologies has agreed to sell assets related to the production of its yogurt fruit preparations product line to Frulact.
The Milwaukee-based company is a global manufacturer of colours, flavours, and other specialty ingredients, with a client base spanning the F&B, pharmaceutical, cosmetic and nutraceutical industries.
In 2019, Sensient revealed plans to divest its inks, fragrances and fruit preparations product lines, and this latest deal marks the second transaction that has progressed to the signing of a definitive agreement.
Portugal-based Frulact supplies ingredients to the global market, with a focus on fruit preparations, plant-based and other specialty ingredients for food and beverages.
As a result of the deal, Sensient will be named a core supplier of flavours, colours, and other related products used by Frulact in its fruit preparation business.
“I am pleased that we have been able to reach agreement on the sale of the inks business and the yogurt fruit preparations product line which will allow us to focus on our core food and personal care product lines,” said Paul Manning, Sensient’s president and CEO.
“I look forward to partnering with Frulact as a core supplier to ensure the continued growth and success of their fruit preparation business.”
The transaction is expected to close in the third quarter of 2020; the financial terms have not been disclosed.
© FoodBev Media Ltd 2022
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