Sensient Technologies Completes Acquisition of Natural Color Business from GlobeNatural
Business Wire 14-Mar-2018 4:30 PM
New Acquisition Will Expand Natural Color Production Capabilities
MILWAUKEE--(BUSINESS WIRE)-- Sensient Technologies (NYSE: SXT), today announced the successful closing of its acquisition of the natural color business of GlobeNatural, a leading natural food and ingredient company based in Lima, Peru. The new entity will operate as Sensient Natural Colors Peru S.A.C.
The addition of a major natural color producer in Peru provides significant new carmine and annatto production capacity and expands the range of anthocyanin color sources in the Sensient Food Colors' product portfolio. This acquisition, as part of our seed to shelf initiative, will enable us to provide leading food and beverage manufacturers with greater supply and cost stability while also enabling us to reach our goals for sustainable and socially responsible sourcing. Combined with our industry leading agronomy and natural color technologies, Sensients vertical integration puts us in an excellent position to meet the growing global demand for colors from natural sources, commented Paul Manning, Chairman, President and Chief Executive Officer of Sensient Technologies.
This release contains statements that may constitute forward-looking statements within the meaning of Federal securities laws. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors concerning the Companys operations and business environment. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements and that could adversely affect the Companys future financial performance include the following: the pace and nature of new product introductions by the Company and the Companys customers; the Company's ability to successfully implement its strategy to create sustainable, long-term shareholder value; the Companys ability to successfully implement its growth strategies; the outcome of the Companys various productivity-improvement and cost-reduction efforts; changes in costs or availability of raw materials, including energy; industry and economic factors related to the Companys domestic and international business; growth in markets for products in which the Company competes; industry and customer acceptance of price increases; actions by competitors, including increased intensity of competition; the loss of any customers in certain product lines in which our sales are made to a relatively small number of customers; product liability claims or product recalls; the costs of compliance, or failure to comply, with laws and regulations applicable to our industries and markets; changing consumer preferences and changing technologies; and failure to complete and integrate future acquisitions or dispositions. The risks and uncertainties identified above are not the only risks the Company faces. Additional risks and uncertainties not presently known to the Company or that it currently believes to be immaterial also may adversely affect the Company. Should any known or unknown risks and uncertainties develop into actual events, these developments could have material adverse effects on our business, financial condition and results of operations. This release contains time-sensitive information that reflects managements best analysis only as of the date of this release. Except to the extent required by applicable laws, the Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized. Additional information regarding these risks can be found in our most recent Annual Report on Form 10-K and subsequent reports that we file with the SEC.
ABOUT SENSIENT TECHNOLOGIES
Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and fragrances. Sensient employs advanced technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, inkjet and specialty inks and colors, and other specialty and fine chemicals. The Companys customers include major international manufacturers representing most of the worlds best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.
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Sensient Technologies Corporation Kim Chase (414) 347-3706
Source: Sensient Technologies Corporation