Owned by the Michell Group, GlobeNatural has more than 25 years of experience in the sourcing, manufacturing, and exporting of natural food and color ingredients which are used in a wide range of food, beverage and cosmetic applications in every region of the world.
The transaction is expected to close in the first quarter of 2018. A purchase price was not disclosed.
“This acquisition is an important component of our ‘seed to shelf’ initiative in food colors. Eighty percent of food products launched globally use natural colors and coloring foodstuffs and we anticipate that this market will continue to grow. We will continue to innovate and expand our natural color supply chain portfolio,” commented Paul Manning, chairman and chief executive officer of Sensient Technologies.
From a cosmetic industry perspective, Sensient contends this acquisition will strengthen its position as a leading supplier of natural colors, such as carmine and other naturally-derived dyes and pigments, answering the fast-growing demand for natural ingredients in cosmetic applications.