Milan-based AromataGroup has acquired a 76% stake in Fiorio Colori SpA. The Fiorio family will retain a 24% stake to ensure a smooth transition period and foster the ongoing growth of the company. Financial details have not been disclosed.
AromataGroup is one of the main Italian players in the field of aromas and ingredients for the food and beverage industry, with sales almost entirely from their internal production.
Fiorio Colori is engaged in the production and distribution of aromas and ingredients for the food and beverage industry.
Both companies involved in the transaction will benefit of new synergies in the food and beverage applications, combining the respective production, technological and R&D competences. Franco Fiorio, who will remain on board as non-executive Chairman, comments: "This step is very important for Fiorio Colori which now becomes part of a new and dynamic environment. We expect a positive development with significant and innovative synergies and a further and stronger international footprint able to maximize our in-house competences and expertise."
Oaklins' team in Italy originated the deal and advised the buyer throughout the process.
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