5/20/2014 — Naturex has agreed to acquire 100% of the capital of Chicago-based Vegetable Juices who specialise in the production and distribution of natural vegetable ingredients. The company said that the transaction meets its strategic criteria for external growth projects and will strengthen its position as a multi-specialist of natural ingredients, particularly within the still highly fragmented and growing market of fruit and vegetable-based ingredients.
The acquisition of Vegetable Juices Inc. will double the size of Naturex’s Food & Beverage operations in the United States, the company said, and represents a very good opportunity to accelerate its growth in this market, particularly in the technical segment of vegetable-based ingredients. Founded 80 years ago in Chicago, historic heart of the food business in the United States, Naturex said that Vegetable Juices has established a strong industrial and scientific base positioning the company as a key player in this segment. Vegetable Juices’ client portfolio is said to include many major global food and beverage companies, and their culinary and superior sourcing capabilities will benefit Naturex and accelerate its development in these areas.
“We are very proud of this acquisition and delighted by the addition to our Group of the Vegetable Juices team that shares our values of excellence, technical and scientific innovation and customer-centric culture”, said Naturex’s CEO, Thierry Lambert. “This acquisition is perfectly aligned with our strategy and will allow us to significantly strengthen our position in the United States, the world’s largest food industry market. It will also offer us an excellent complementarity in terms of products to provide new momentum to our offering of fruit and vegetable-based ingredients (NAT F&V™ range) across our sales network.”
“We are extremely pleased with this acquisition by Naturex,” said Elizabeth Doyle, CEO of Vegetable Juices. “Our companies’ values are aligned. This acquisition will ensure business continuity, growth of the company and advancement of the values and work fostered by the Garvy family for so many years.”
“We are very pleased to be joining Naturex Group,” said Steve Wiley, COO of Vegetable Juices. “Vegetable Juices will have the opportunity to benefit from the significant development potential offered by combining our technical and scientific expertise, enhancing our product offering and maximizing our commercial presence.”