Milwaukee — Colors and flavors supplier Sensient Technologies Corp. has agreed to acquire the natural color business of Peru-based GlobeNatural, which is owned by the Michell Group. The deal is expected to close this quarter, after which the acquired firm will operate as Sensient Natural Colors Peru S.A.C.
GlobeNatural has more than 25 years of experience in sourcing, manufacturing and exporting natural food ingredients, according to Sensient.
“This acquisition is an important component of our ‘seed to self’ initiative in food colors,” says Paul Manning, Sensient chairman and CEO. “Eighty percent of food products launched globally use natural colors and coloring foodstuffs, and we anticipate that this market will continue to grow.”
This past year, Sensient’s color business increased revenue 4.4 percent, reaching $526.4 million, according to the supplier.