Private equity firm TA Associates is investing in Nactarome, a group of companies in Europe that makes ingredients for the food and beverage industry, a news release said.
TA will become the largest shareholder in Nactarome, as a result of the investment, which is expected to close in the first quarter of 2022, according to the release. The deal's financial details have not been revealed.
Nactarome's management team and private equity investor Ambienta will retain minority stakes in the company, which makes natural flavors, colors and other ingredients for food and beverages.
"We have spent the last decade building partnerships with our customers to provide them with tailor-made products, enabling them to win consumers in the moment of truth," Dr. Hans Udo Wenzel, Nactarome founder and chairman, and Luigi del Monaco, CEO of Nactarome, said in a joint statement. "Our mission remains to guarantee them flexibility. We would like to thank Ambienta for their support and ambition over these past three years and welcome our new growth focused partner, TA, who shares our vision to continue our growth trajectory and expand into additional markets.”
Nactrarome, headquartered in Milan, serves more than 4,200 clients through 10 specialized production facilities across Europe, the news release said.
“Natural flavors and colors are a large market with a high-quality revenue model, which we believe has the potential for long-term structural growth,” Patrick Sader, TA's managing director, said in a statement. “We are delighted to partner with Udo and Luigi on the next phase of organic and external growth of Nactarome while continuing to prioritize its customer-centric approach and commitment to sustainability,” according to Sader, who is also co-head of TA's EMEA Services Group.