A Bristol-based natural flavourings company has been sold off for an undisclosed sum.
Create Flavours was sold to the European Nactarome Group – funded by European private equity house Ambienta – in a deal which will see the company’s management team remain at the helm of the business.
Managing director Jonathan Jones, technical director Nick Dyson, and commercial director Bryan Jones will guide the business through its next stages of growth, the company said.
Mr Jones said: “We are delighted to join forces with Nactarome and tap into its significant technical and operational resources.
“This move will strengthen our innovations, products and abilities to provide our clients across the UK and Ireland with the highest service standards.”
Nactarome is undertaking a buy-and-build project to create a business focused on servicing mid-sized food manufacturers.
The group was formed in 2018 following the acquisition of the Italian Aromata Group with two further acquisitions in 2019 of IPAM and French-based Nactis.
Audit and tax firm RSM and law firm Womble Bond Dickinson advised on the sale.
Ian Wherry, corporate finance partner for RSM, said: “This acquisition is a fantastic inward investment opportunity for Nactarome and the Aromata Group and demonstrates the UK is an attractive market.”
Tom Fitzpatrick, partner at Womble Bond Dickinson, added: "The worldwide Covid-19 pandemic and lockdown presented a number of challenges on this deal, but those were overcome with a combination of confidence, innovation and pragmatism.
"We wish Jonathan and his team all the best in realising Nactarome's vision to be a European leader in natural ingredients."
