Mazza Innovation Ltd. announced that it has been acquired by Sensient Technologies Corporation, a global manufacturer and marketer of colors, flavors and fragrances. The acquisition is effective immediately and terms of the acquisition have not been disclosed. The Mazza plant extraction facility at the Delta, BC headquarters location will remain in place.
“We’re very pleased to join Sensient Technologies, a world leader in the production of colors, flavors and fragrances,” said Mazza Innovation CEO Benjamin Lightburn. “The acquisition by Sensient provides Mazza with a large new customer base, and a wide variety of new opportunities for our environmentally friendly extraction technology. It also provides a strong financial base for our rapid growth plans while also enabling our founders to benefit from their many years spent working to develop and commercialize this world-leading technology.”
Paul Manning, Chairman, President and CEO of Sensient Technologies, comments: “This acquisition is extremely significant for Sensient and our customers. The combination of our color and flavor expertise and Mazza’s revolutionary technology will allow us to conduct extraction from natural plant sources using environmentally friendly extraction methods — including water only extractions — instead of traditional chemical solvents. This technology will enable us to work with leading food, cosmetics, and nutraceutical brands to create cost effective, clean label products that deliver on consumer expectations for taste, color, and functionality.”
Support from a number of Canadian government programs and non-profit innovation associations was fundamental to proving out Mazza’s technology and the company’s subsequent rapid growth.
“We also want to thank the many government and innovation support programs that enabled us to develop and accelerate our commercialization over the last few years,” adds Lightburn. “Programs and groups such as the Governments of Canada and British Columbia, Agriculture Canada, NRC-IRAP, WD WINN and Natural Products Canada were invaluable to our company and other small emerging firms. We’re also happy to report that all of these were either repaid in full or at a profit. They are valuable programs.”
Speaking as one of many of these organizations, Shelley King, CEO of Natural Products Canada, said: “Mazza is a great example of Canadian innovation — turning a tremendous technology into a much-needed business that has garnered international investment. We are very proud to have played a part in their success.”