Oterra moves to confirm acquisition for Diana Food’s natural colouring business
The Danish-based Oterra solutions group has confirmed its earlier outlined proposals to acquire Diana Food’s natural food colouring business, with both parties having now singed a transaction for an undisclosed sum, writes Neill Barston.
As Confectionery Production previously reported, the company, which recently changed its name from its founding name of Chr. Hansen, has over 145 years experience in the sector, and is continually upgrading its overall global portfolio.
Oterra, derived from the Latin name for Earth, produces natural food solutions for a number of market segments including confectionery, bakery and snacks ranges.
Following the completion of the transaction, the company will fully integrate Diana Food’s natural colouring business into its world class offering. Diana Food is currently owned by Symrise AG, a global supplier of fragrances, flavours, food, nutrition, and cosmetic ingredients.
This is the second acquisition in a short period of time for Oterra, an EQT portfolio company, who acquired SECNA Natural Ingredients Group S.L in June of this year. For Oterra CEO, Odd Erik Hansen, these acquisitions are a vital part of the company’s strong growth ambitions.
“Consumers these days know what they want, and all research shows that the demand for natural food colours continues to grow strongly. The market is expected to reach $3.2 billion by 2027 – and adding companies with complementary strengths and offering to our business will enable us to best help our customers on their journey towards natural,” said Hansen.