International Flavors & Fragrances’s (IFF) Frutarom division has closed the acquisition of a 70% stake in Leagel, a producer of ice cream and gelato ingredients in Europe.
Financial details of the deal have not been disclosed.
A family-owned company based in San Marino, Italy, Leagel specialises in artisanal taste, texture and toppings that are sold directly to ice cream and gelato shops.
IFF’s Frutarom division president Amos Anatot said: “The purchase of the stake in Leagel aligns well with our strategic acquisition in 2017 of SDFLC Brasil Indústria E Comércio Ltda (SDFLC), a top Brazilian producer of taste solutions for ice creams and desserts.
“We see great opportunities to combine these companies and create a global platform for our ice cream ingredients business, expand our geographic reach and leverage cross-selling opportunities.”
Leagel serves 1,600 direct customers and distributors. It has 61 employees and a geographic reach that includes 25 countries in Europe.
IFF has the option to acquire the remaining 30% stake in Leagel after three years.
In October, IFF has completed the acquisition of Israeli firm Frutarom for $7.1bn.
The agreement secured final antitrust clearance in September, having been originally signed in May.
With this acquisition, IFF is expanding into new and fast-growing categories such as savoury solutions, natural colours, natural food protection and healthy ingredients.
Last October, IFF opened two facilities in China as part of its long-term strategy to gain a larger share of the Greater Asian market.
The company opened its flavours manufacturing facility in the Zhangjiagang Free Trade Zone and Natural Product Research lab in the Nanjing Life Science Park.
