06/25/2021 | Press release | Distributed by Public on 06/24/2021 22:07
Jun. 25. 2021
Marubeni Corporation (hereinafter, 'Marubeni') has reached an agreement to invest in Euroma Holding BV (hereinafter, 'Euroma'), a major European spices and seasonings manufacturer, with the intention to become 100% shareholder on June 18, 2021 (hereinafter, 'the Transaction'). Marubeni and Euroma will promptly conclude a share purchase agreement after the Works Council (* 1) approves the Transaction.
The global market for food functional ingredients (* 2), including spices and seasonings, is estimated to be approximately 52 billion USD, and is expanding steadily, due to population growth and growing health consciousness, with an estimated annual growth rate of over 5%.
Euroma is the third largest manufacturer of spices and seasonings in Europe and has over 120 years of experience across the entire supply chain, from field to plate. Taking natural ingredients as their starting point, Euroma uses its extensive knowledge of food technology and applications to develop superior flavours and textures across a wide range of food categories and sells to major global food manufacturers in over 60 countries. In recent years, Euroma has collaborated with famous chefs, universities, and research institutes and developed products that are appealing in taste, texture, and nutrition, and has automated and consolidated manufacturing processes to improve price competitiveness.
The Transaction is Marubeni's second investment in the life sciences field (* 3), following Orffa International Holding B.V. (* 4) in the Netherlands, which is the largest feed additive distoributor in Europe.
Marubeni will utilize its network of food and agriculture to support Euroma's business expansion in Europe and work to expand sales in the United States and Asia.
(*1) Under the Dutch Works Councils Act, the Works Council must be requested to render its written advice prior to the company's adoption of intended decisions.
(*2) A general term for materials that contribute to improving flavor, color, texture, preventing deterioration, etc. in the processing and manufacturing of foods, such as functional food materials and food additives.
(*3) Fields related to daily life in general such as food functional ingredients, feed additives, shampoos, cosmetic and raw materials.
(* 4) 'Marubeni to Acquire Stakes in the largest distributors of feed additives in Europe' press release dated Feb. 23. 2017 https://www.marubeni.com/en/news/2017/release/00005.html
|Business||:||Manufactures and sales spices, seasonings and texture modifiers|