Last week in business news, IFF’s Frutarom division has acquired a 70 percent stake in Leagel, an Italian-based producer of ice cream ingredients. CP Kelco announced its plans to increase pectin production capacity at its Limeira, Brazil facility by 10 percent. Kemin Industries has added a new Oxidation Stability Index (OSI) calculator for its Food Technologies North America website.
In brief: Business
International Flavors & Fragrances Inc. (IFF) has announced that its Frutarom division has completed the acquisition of a 70 percent stake in Leagel S.r.l. (Leagel), a producer of ice cream and gelato ingredients in Europe. A family-owned company based in San Marino, Italy, Leagel specializes in artisanal taste, texture and toppings sold directly to ice cream and gelato shops. “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,” says Amos Anatot, President of IFF's Frutarom Division. “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 has 61 employees serving 1600 direct customers and distributors, with a geographic reach that includes 25 countries in Europe. The company’s portfolio includes artisanal ingredients to a full suite of products and equipment for the gelato and ice cream retailer. IFF retains an option for the residual 30 percent stake in Leagel to be exercised after three years.
Specialty hydrocolloid producer CP Kelco is to invest to increase its pectin production capacity at its Limeira, Brazil facility by 10 percent. This investment will enhance the market supply of pectin by the end of 2019. “All around the world, our customers are creating innovative beverages that require nature-based ingredients. In Asia, for example, we see robust growth in drinking yogurts and low pH protein drinks, in which pectin is an essential ingredient for creating high-quality products,” says Jérôme Béra, Senior Vice President, Global Marketing. “As these markets expand, we are committed to continuing our investments and already have other projects planned to add capacity as needed and in a timely manner to support our customers’ growth aspirations.”
In brief: Appointments & retirements
Impossible Foods has hired Dennis Woodside to join the food-tech start-up in the newly created role of President, effective March 18, 2019. Woodside, a tech industry veteran, has nearly 25 years of professional experience at both start-ups and publicly traded multinationals. “After an exhaustive search to fill a critical position, Dennis stood out for his proven track record of turning startups into transformative corporations,” says Impossible Foods’ CEO, Chairman and Founder, Dr. Patrick O. Brown, Professor Emeritus of Biochemistry at Stanford University and a former Howard Hughes Medical Institute investigator. “Dennis is also a 14-time Ironman Triathlon finisher, so I know he has the discipline and endurance to go the distance for Impossible Foods.” Woodside most recently served as Chief Operating Officer of Dropbox, where he was responsible for all customer-facing functions and revenue generation. Before that, he was the Chief Executive Officer of Motorola Mobility, a US$10 billion mobile device company, after its acquisition by Google. He worked at Google from 2003-2012, overseeing more than US$10 billion in sales in North and South America, Europe, the Middle East and Africa, among other leadership roles. “I love what Impossible Foods is doing: using science and technology to deliver delicious and nutritious foods that people love, in an environmentally sustainable way,” Woodside says. “I’m equally thrilled to focus on providing the award-winning Impossible Burger and future products to millions of consumers, restaurants and retailers.”
In brief: Other highlights
Kemin Industries has added a new Oxidation Stability Index (OSI) calculator for its Food Technologies North America website. According to Kemin, the digital slider tool allows formulators to select the desired number of Oxidative Stability Index (OSI) hours, then provides shelf-life calculations for various fats and oils. This enables manufacturers to determine the ideal oil and antioxidant solution combination they need to meet cost targets and shelf-life goals. “We developed the OSI calculator so that formulators would have an easily accessible tool to help them maximize the desired shelf life of their food products,” says Courtney Schwartz, Marketing Director for Kemin Food Technologies. “Many manufacturers are seeking to remove traditionally used synthetic ingredients without switching to a high cost/high-stability oil, which can often reduce the stability of their oil. For example, GT-FORT, Kemin’s oil-soluble green tea extract, give manufacturers a label-friendly, cost-effective solution to help meet their needs.” The GT-FORT product line of plant extracts for fats and oils assists with oxidation control, significantly delaying lipid oxidation, which lengthens the shelf life of food and maintains brand consistency, says Kemin.
Triton Algae Innovations, a San Diego-based start-up focused on new food and nutritional products derived from a highly nutritious algae, has announced that the US Food and Drug Administration (FDA) “has no questions” that Triton’s algae ingredient Chlamydomonas reinhardtii (C. reinhardtii) is GRAS (Generally Recognized As Safe) for its intended uses in food. FDA reached this finding following a lengthy and rigorous evaluation of a comprehensive science dossier prepared by Triton, which was comprised of toxicological safety studies and characterization data. This dossier had been previously reviewed by an independent panel of experts, which also concluded that Triton’s algae is GRAS.
