Capol of Elmshorn, Germany, a company belonging to the Freudenberg Chemical Specialities Business Group, has announced the acquisition of Colarôme of Saint Hubert, Canada.
Freudenberg acquires Canadian natural food additives business
Technology company Freudenberg is expanding its business in the food industry, specifically in confectionery. Capol of Elmshorn, Germany, a company belonging to the Freudenberg Chemical Specialities Business Group, has announced the acquisition of Colarôme of Saint Hubert, Canada – a specialist in natural food additives – with immediate effect. The company holds production technology patents that enable the manufacture of a unique line of natural pigments. In addition to colourings, Colarôme also manufactures flavourings and natural vanilla extracts. The company has 17 employees. The transaction includes the acquisition of a Colarôme production facility in Canada. The acquisition is said to be an important step in the long-term development of Capol’s global business.
“Additives for the food industry are an attractive market segment in the long-term. Having Colarôme now in our portfolio, we will be able to strategically develop this business segment,” said Hanno D. Wentzler, President and CEO of Freudenberg Chemical Specialities. “Both Capol and Colarôme have very similar business models, so we expect a swift integration into Capol.”
Capol and Colarôme operate in specific segments of the food industry, particularly in the confectionery market. Capol products serve all applications of the confectionery industry requiring surface treatment. The company supplies anti-sticking agents for gums and jellies, as well as glazes and polishing agents for sugar dragées and chocolate-coated centres.
“For Capol, the acquisition generates substantial synergy effects. We will be even better able to offer and develop products that precisely meet our customers’ requirements. The acquisition is a further step to expanding our position as an industry leader for coatings in the confectionery industry,” said Christian Hauk, CEO of Capol.