13 Jul Fiorio Colori has sold a majority stake to AromataGroup
Following the acquisition of Select Alimenta, Emans Derivati Aromatici and Variati Aromi, Fiorio Colori is the last acquisition closed by AromataGroup, a leading company in the manufacturing and distribution of flavors and aromatic extracts for the food & beverage industry, offering also some of its products to the cosmetic, pharma and nutraceutical industry.
AromataGroup will hold a 76% stake in Fiorio Colori company. The family of the architect Franco Fiorio will keep a 24% stake, while the current CEO Mr. Enzo Rosati, together with Mr. Tonio Grassmann, AromataGroup’s CEO, will be managing the company.
Both the companies involved in the transaction will benefit of additional synergies in the development of new food & beverage applications, combining the respective production plants & set-ups, technological experiences and R&D competences in order to better serve an always more demanding and sophisticated customer portfolio. The deal will strengthen both companies as a whole, starting from the R&D competences up to the development of innovative product applications.
Fiorio Colori, which in 2015 posted a turnover of approx. € 11m will continue operating in its current production site in Gessate, where also the commercial and R&D offices are based, as an independent business unit of AromataGroup.
Fiorio Colori will keep focusing also on the other markets in which the company is active, like the detergency as well as the house hold, the personal care and other chemical industries.
Thanks to this deal, AromataGroup strengthens its path of growth, becoming one of the main Italian players in the fields of flavors, aromatic extracts and colors for the food & beverage industry, with sales achieved almost entirely with products of internal production, with three manufacturing plants and employing over 110 people.
Architect Franco Fiorio, who will remain in the company as Non Executive Chairman, comments: “This step is very important for Fiorio Colori, as the company becomes part of a new and dynamic environment. We expect very positive developments with significant and innovative synergies at Group level, and a further and stronger international footprint able to maximize the in-house competences and expertise.”
Hans Udo Wenzel, President of AromataGroup comments further: “This is our 4th successful closing after we have started our project end 2011 with the acquisition of Select Alimenta. We continue the aggregation process of flavor & color producing companies for the food & beverage industry, with the goal of fostering the cooperation among innovative companies and in order to be for our customers a valid alternative versus the major market players.”
In the light of combined sales of approx. € 30m, AromataGroup today represents a sound benchmark in the world of flavors, aromatic extracts and colors for the food & beverage industry. Creativity, expertise and flexibility have led the Group towards the development of a wide range of high quality products. The former companies Select Alimenta, Emans Derivati Aromatici and Variati Aromi, which are part of AromataGroup already, operate as business units with a shared vision and strategy, offering to their customers a wide range of innovative products in the various food & beverage application fields.
For further information:
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