EQT Buys Chr. Hansen's Food Coloring Business for $930.5 Million
By Dominic Chopping
STOCKHOLM--Swedish private-equity firm EQT AB said Saturday it
has agreed to buy Chr. Hansen AS's food-coloring business for 800
million euros ($930.5 million).
EQT said the Natural Colors business, which produces natural
coloring ingredients for food and beverages, is supported by
favorable secular megatrends, such as increasing consumer awareness
around health and the environment, the continuing transition from
synthetic coloring components to natural ingredients and a growing
demand for sustainable and plant-based food.
Headquartered in Horsholm, Denmark, Natural Colors employs
around 650 people and has grown organically by around 9% a year
during the past five years. The company generated sales of EUR224
million in 2018-19.
Natural Colors products are primarily used in food and beverages
where the conversion from artificial to natural colorants is
highest, such as dairy- and fruit preparations, confectionary, ice
cream, prepared foods and beverages.
The deal is subject to customary conditions and regulatory
approvals and is expected to close in the first half of 2021.
Write to Dominic Chopping at firstname.lastname@example.org
(END) Dow Jones Newswires
September 28, 2020 01:43 ET (05:43 GMT)
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