Oterra plans to acquire Diana Food’s natural colouring activities

Denmark-headquartered Oterra has announced plans to acquire Diana Food’s natural food colouring activities from Symrise.

Symrise intends to focus on its Flavor & Nutrition business and has welcomed and presented the offer to French Labor Unions.

The activities include nearly 80 Diana Food employees in two production facilities located in France and the UK.

The production facility in Holbeach in the southern East Midlands, UK, employs 14 people. It is engaged in the production of natural and synthetic colours for the food, beverage and related industries.

Symrise said that the Cossé le Vivien site in northwestern France has a workforce of nearly 60 employees. It is engaged in red beet and carrot processing activities.

Symrise Flavor & Nutrition president Dr Jean-Yves Parisot said: “Symrise welcomes the offer from Oterra. It supports our goal to strengthen the focus of the Flavor & Nutrition segment on its core expertise in taste, nutrition and health in food, pet food and aqua feed application areas.

“For strategic reasons, it, therefore, makes a lot of sense for us to seek a partnership with a potential buyer and divest the food colouring business.”

Depending on the approval, Symrise expects to sign a purchase agreement in the forthcoming months.

Previously known as Chr. Hansen Natural Colors, Oterra supplies a wide range of natural colours and is a portfolio company of private equity firm EQT.

The company recently announced the acquisition of Secna Natural Ingredients Group.

Oterra CEO Odd Erik Hansen said: “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.”