Natural Colors was acquired by EQT for €800 million.
The deal was made with existing owner Chr. Hansen Holding A/S, which agreed to divest its subsidiary, a global bioscience and developer of natural solutions for the food, nutritional, pharmaceutical and agricultural industries. EQT operated through its EQT IX fund.
Natural Colors, headquartered in Hørsholm, Denmark, is a developer and manufacturer of natural coloring ingredients, serving over 1,600 customers in the food and beverages (F&B) industry.
The Company is the global leader in the natural colorants industry in terms of innovation, application, formulation, product portfolio breadth and geographical reach. The Natural Colors Division employs approximately 650 people and has grown organically by around 9 percent per annum during the past five years up to 2018/19, producing sales of €224 million ($261M) in 2018/19.
Natural Colors’ products are made from all-natural fruit and vegetable concentrates from sweet potatoes, grape skin, spirulina, carrots and beetroots. The products are primarily used within F&B applications where the conversion from artificial to natural colorants is highest, such as dairy- and fruit preparations, confectionary, ice cream, prepared foods and beverages.