The full completion of this acquisition is subject to the final agreement of the Polish Ministry of the Treasury which should confirm the privatization of Pektowin by the end of January 2012.
The acquisition of Pektowin represents an opportunity for Naturex to gain a new production capacity in the field of juice concentrates. Indeed, Pektowin is one of the main Polish producers of fruit (mainly apples) and vegetable (especially red beets and black radishes) juice concentrates, and produces over 6,000 tons of concentrates each year.
Pektowin achieves one third of its sales in Poland and two thirds in Russia, as well as in other countries of Eastern Europe. Thereby, Naturex significantly strengthens its commercial presence in Eastern Europe, allowing it to create several synergies. In addition to this acquisition, a sales office in Warsaw will be opened in order to support the assistance to clients and prospects as well as the promotion of other ingredients of the group, locally.
"This new acquisition is perfectly in line with our growth strategy in complementary markets with a broadened product portfolio, a strengthened production capacity as well as an additional industrial know-how,” commented Jacques Dikansky, president and CEO of Naturex. “We are confident in our ability to integrate Pektowin within Naturex Group, enhancing its industrial tools and products to our international customers thanks to the dynamism of our global sales network, and our technical and scientific expertise."
From the December 23, 2011, Prepared Foods' Daily News.