AVIGNON, France—Building on its strategy of development in emerging countries, Naturex has acquired Valentine Agro Ltd., an Indian company specialized in the production of fruit and vegetable powders and natural colors for the food and beverage industry. The transaction marks Naturex’s third acquisition since October 2011.
Valentine has two production sites located near Mumbai, and the acquisition will allow Naturex to become a local producer in India. This first industrial setup in Asia will supplement the group's regional production centers in Europe and in the Americas, in particular for natural colors, and ensure promotion for all of the group's product ranges while benefiting from the existing commercial structure and to develop close relations with the Indian food industry.
Naturex also set up a purchasing office, like the one created in China a few years ago, to better benefit from the wealth of the country's raw materials (herbs, spices, plant extracts, etc.) at the scale of the group.
“This acquisition provides us not only with a dynamic commercial presence in India but also allows us to become a producer in this country in order to best respond to the local issues that our clients face," said Jacques Dikansky, President, CEO and founder of Naturex. “The tremendous growth potential of Valentine in a market enjoying high growth, combined with Naturex's technical and scientific expertise will open great opportunities for us."