HYET Holding B.V. has acquired Ajinomoto Sweeteners Europe S.A.S. (ASE) as part of their global expansion. Financials have not been disclosed.
HYET Holding B.V. is a sister company of HYET Sweet B.V., which is headquartered in Breda, the Netherlands. HYET Sweet was founded in 2009 and since then has specialized in the supply of sweeteners, which include: Aspartame, Sucralose, Acesulfame-K and Stevia. HYET Sweet has warehouses in the Netherlands, USA and Canada and sells in over 35 countries.
“We are delighted to be able to preserve the Gravelines site and secure a future for all employees. The purchase of ASE will take our company to an exiting new phase. HYET Sweet is one of the leading suppliers of sweeteners in Europe and sells in over 35 countries. With the extensive market experience of HYET Sweet and the expertise in manufacturing of the Gravelines site, we are confident we will strengthen our position in the global sweeteners market," said Ad Timmermans, CEO of HYET Holding.
ASE, located in Gravelines, northern France, was established in 1991 and has been producing Aspartame since 1993. The site was initially named Euro-Aspartame S.A. and was owned 50:50 by USA’s NutraSweet and Ajinomoto Co. In 2000 it became Ajinomoto Co.’s 100% subsidiary and was re-named Ajinomoto Sweeteners Europe S.A.S. in 2006.
Ajinomoto Co., Inc. is a Japanese food and chemical corporation which produces seasonings, cooking oils, TV dinners, sweeteners, amino acids, and pharmaceuticals. It is the world's largest producer of aspartame, with a 40% global market share.
Oaklins' team in France advised the buyer in this transaction.
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