Sensient Technologies has acquired the natural colour business of Peruvian company GlobeNatural. GlobeNatural sources and manufactures raw materials including cochineal derivatives, annatto derivatives, turmeric derivatives, anthocyanins and chlorophyll for natural colouring.
The acquired business, which will operate as Sensient Natural Colors Peru, will help Sensient to expand its reach in the growing natural foods segment. Globally, the move from synthetic colours to those from natural sources is a key long-term trend in the food industry.
“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,” said Paul Manning, chairman and chief executive officer of Sensient.
As a leading supplier of food colourings, Sensient is active across the value chain for colours from natural sources. The company recently expanded its agronomy program, with the goal of producing higher pigment botanical colour material while ensuring responsible and sustainable farming practices.
The transaction is expected to close in the Q1 of this year. Financial details have not yet been disclosed.