Sensient Technologies Corporation (NYSE: SXT) announced today that it has entered into a definitive agreement to sell certain assets related to the production of its yogurt fruit preparations product line to Frulact. As a result of this transaction, Sensient will be named a core supplier of flavors, colors, and other related products used by Frulact in its fruit preparation business. The transaction is expected to close in the third quarter of 2020.
"Sensient previously announced three divestiture targets; this divestiture is the second transaction that has progressed to the signing of a definitive agreement. I am pleased that we have been able to reach agreement on the sale of the inks business and the yogurt fruit preparations product line which will allow us to focus on our core food and personal care product lines," said Paul Manning, Sensient’s Chairman, President, and Chief Executive Officer. "I look forward to partnering with Frulact as a core supplier to ensure the continued growth and success of their fruit preparation business."
Frulact is a global ingredients supplier. The companies will work together to ensure an efficient transition of the product line for Sensient’s current yogurt fruit preparations customer base.
ABOUT SENSIENT TECHNOLOGIES
Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. Sensient uses advanced technologies and robust global supply chain capabilities to develop specialized solutions for food and beverages, as well as products that serve the pharmaceutical, nutraceutical, cosmetic, and personal care industries. Sensient’s customers range in size from small entrepreneurial businesses to major international manufacturers representing some of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.
Frulact is a global ingredients supplier, focused on fruit preparations, plant based and other specialty ingredients for food and beverages. Frulact serves globally a full range of dairy, beverage and ice cream producers from its production bases in Europe, North America and Africa. Frulact is headquartered in Oporto, Portugal and is owned by Ardian, a world-leading private investment house.