Oterra in discussions to acquire Diana Food’s coloring business
Diana Food is owned by Symrise AG, a global supplier of fragrances, flavors, food, nutrition and cosmetic ingredients.
“We are thrilled at the prospect of welcoming the entire natural colors team of Diana Food, and their dedicated customers to the Oterra family. Diana Food has built an impressive business under Symrise, and we look forward to continuing Diana Food’s strong customer and supplier relationships. This deal will further strengthen Oterra’s access to high quality raw materials, and complement our agronomy competencies,” said Odd Erik Hansen, CEO, Oterra.
This will be the second acquisition for Oterra, following the recent announcement on the acquisition of SECNA Natural Ingredients Group S.L.
Cees de Jong, chairman of Oterra, said, "The carve-out of Diana Food’s coloring business from Symrise is strategically important to Oterra, and after less than three months of new ownership we are already strongly progressing on our ambitious growth journey.”
In compliance with French legal requirements, Diana Food’s labor unions, based in France and the UK, were presented with the offer. Depending upon the processing time, Oterra, expects the purchase agreement to be finalized in the coming months.