December 21, 2007
Canec Inteational Ltd. is pleased to announce today the acquisition by its client Naturex of Chart Corporation, a US company specializing in the production of natural flavor ingredients for the beverage and flavor industries. Chart Corporation is located in Paterson (NJ), near the US headquarters of Naturex (South Hackensack, NJ). This strategic move further expands the presence of Naturex in the global natural ingredients market.
Naturex and Chart Corporation boast strong synergies, both in terms of their products and their customers. Chart Corporation adds to the Naturex product lines a comprehensive range of flavoring plant extracts in solid and fluid forms. Solid extracts are actually semi-solid, paste-like extracts that are ideal for flavor applications. Fluid extracts are botanical extracts in a liquid form that offer the advantage of being water soluble. Fluid extracts are in high demand by beverage manufacturers as they provide cost efficient solutions for ingredient solubility. Naturex offers oleoresins, essential oils and flavoring extracts through its NAT'AromTM line. With the addition of the Chart Corporation product lines, Naturex will be among the world leaders in natural flavoring ingredients designed for the flavor and beverage industries.
Jacques Dikansky, President and CEO of Naturex said "This acquisition strengthens our position in the natural flavoring ingredients market and further establishes Naturex' position as one of the global leaders in the field of plant extracts."
Claudia Molloy, President and CEO of Chart Corporation, declared "I am delighted with the combination of both companies, it will enable us to provide the best quality service to our current customers and to compete more effectively for new business."
As exclusive M&A advisors to Naturex, Canec Inteational Ltd. initiated the transaction and managed and facilitated the entire buy-side process.
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Naturex manufactures and sells natural ingredients for the food, dietary supplement and utraceutical, pharmaceutical, and cosmetic industries. Headquartered in Avignon, France, the group has an inteational reach, with over 90{fed1cb9cadadc7ad93f4a1e5499ba3581105cf44f475991d37411cbe777fdebd} of its sales generated in 30 different countries outside France, 65{fed1cb9cadadc7ad93f4a1e5499ba3581105cf44f475991d37411cbe777fdebd} of which are in the North American market. Naturex has facilities in France, Morocco, the United States and Italy, a subsidiary in the United Kingdom, and a representative office in Singapore.
Canec Inteational Ltd. was established in 1989 to meet the needs of a growing number of European and North American companies wanting to expand overseas. Today Canec provides transatlantic buy and sell-side services to companies wanting to invest in or divest targets with enterprise values between $10 Million and $150 Million.