Freudenberg invests in food industry additives
Acquisition of Canadian specialist Colarôme Inc.
DEERFIELD, Ill., Oct. 6, 2017 /PRNewswire/ -- Freudenberg, the global technology company, is expanding its business in the food industry, specifically in confectionery. Capol GmbH, Elmshorn, Germany, a company that belongs to the Freudenberg Chemical Specialities Business Group, has today announced the acquisition of Colarôme Inc. of Saint Hubert, Canada – a specialist in natural food additives – with immediate effect. The company holds production technology patents that enable the manufacture of a unique line of natural pigments. In addition to colorings, Colarôme also manufactures flavorings and natural vanilla extracts. The company has 17 employees. The transaction includes the acquisition of a Colarôme production facility in Canada. The acquisition is an important step in the long-term development of Capol's global business.
"Additives for the food industry are an attractive market segment in the long-term. Having Colarôme now in our portfolio, we will be able to strategically develop this business segment," says Hanno D. Wentzler, President and CEO of Freudenberg Chemical Specialities. "Both Capol and Colarôme have very similar business models, so we expect a swift integration into Capol," he said.
Capol and Colarôme are well-known for their expert know-how in specific segments of the food industry, particularly in the confectionery market. Capol products serve all applications of the confectionery industry requiring surface treatment. The company supplies anti-sticking agents for gums and jellies, as well as glazes and polishing agents for sugar dragées and chocolate-coated centers.
"For Capol, the acquisition generates substantial synergy effects. We will be even better able to offer and develop products that precisely meet our customers' requirements. The acquisition is a further step to expanding our position as an industry leader for coatings in the confectionery industry," explains Christian Hauk, CEO of Capol GmbH.
Headquartered in the Chicago suburb of Deerfield, Illinois, Capol LLC is the company's North American subsidiary.
About Colarôme
Colarôme Inc. is a privately held Canadian company operating in the natural ingredient sector. Since 1998 Colarôme has developed processes for the manufacturing and the formulation of dyes, pigments, flavors and extracts. The company's head office, production plant and research and development laboratory are located in the Greater Montreal Area (Canada), where most of its currently 17 people are employed
About Freudenberg Chemical Specialities
Freudenberg Chemical Specialities develops, manufactures and markets chemical specialties. To be close to its customers, the company is represented globally in the market with its five brands, Klüber Lubrication, Chem-Trend, OKS, SurTec and Capol. Freudenberg Chemical Specialities is one of the global leading manufacturers of specialty lubricants, release agents, chemotechnical maintenance products, and solutions for surface and galvanic technologies. Headquartered in Munich, Germany, the Business Group runs its own companies in some 40 countries. In 2016, Freudenberg Chemical Specialities employed about 3,360 people and generated sales of more than €1 billion.
About the Freudenberg Group
Freudenberg is a global technology group that strengthens its customers and society long-term through forward-looking innovations. Together with its partners, customers and research institutions, the Freudenberg Group develops leading-edge technologies and excellent products and services for more than 30 markets and for thousands of applications: seals, vibration control components, nonwovens, filters, specialty chemicals, medical products, IT services and the most modern cleaning products.
Strength of innovation, strong customer orientation, diversity, and team spirit are the cornerstones of the Group. The 168-year-old company holds strong to its core values: a commitment to excellence, reliability and pro-active, responsible action. In 2016, the Freudenberg Group employed more than 48,000 people in almost 60 countries worldwide and generated sales of approximately €8.6 billion. For more information, please visit www.freudenberg.com.
SOURCE Freudenberg North America
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