Caravelle's equity investment follows the sale by Natraceutical of its stake that represented 15.35% of the share capital and 8.27% of the voting rights on 5 December 2012.
Natraceutical, the Spanish group, had become a shareholder in December 2009 with a 38% stake after the Naturex acquired its Ingredients Division. Through this latter acquisition Naturex doubled in size and achieved a leadership position in its market. Natraceutical had indicated its intention since 2011 to gradually divest its holdings in Naturex's share capital and in recent months has significantly reduced its stake.
This friendly acquisition fits within the development strategy of Caravelle that has clearly demonstrated its wish to participate in pursuing the development projects of Naturex Group in line with latter's strategy over the last 20 years.
"We welcome Caravelle Group's addition as a shareholder and will propose that Ms. Hélène Martel-Massignac, Caravelle's Chief Executive Officer, be appointed as a new member of Naturex's Board of Directors", commented Naturex's Chairman-CEO, Thierry Lambert. "This proposed nomination will be submitted to a vote at the next Shareholders Meeting".
Naturex is the global leader in speciality plant-based natural ingredients. The Group is organised around three strategic markets (food & beverage, nutrition & health and personal care) and produces and markets speciality plant-based ingredients for the food, nutraceutical, pharmaceutical and cosmetic industries.
Naturex's head office is based in Avignon. The company employs more than 1,300 people with high-performance manufacturing operations across 15 sites in Europe (France, Italy, Spain, the United Kingdom, Switzerland, Poland) as well as in Morocco, the United States, Brazil, Australia and India. It also has a global presence through a dedicated network of sales offices in 21 countries (France, Italy, Spain, Morocco, the United Kingdom, Belgium, Germany, Poland, Russia, U.A.E., Thailand, Singapore, Japan, China, Korea, Australia, the United States, Canada, Brazil, Mexico and India).
Naturex's development is supported by positive underlying trends linked to the fast-growing demand for natural products and its capacity to provide manufacturers customised solutions to meet the requirements of their end consumers. The Group's strength lies in its positioning with specific products which constitute niche markets, supported by strong sourcing capacity and sustained research & development.
