Sensient Technologies Corporation

Sensient Technologies (NYSE: SXT) is a leading global manufacturer and marketer of colors, flavors and fragrances based in Milwaukee, Wisconsin. Their products are used to make a diverse variety of foods and beverages, pharmaceuticals, cosmetics, home and personal care products, specialty printing and imaging products, computer imaging and industrial colors. Sensient reported revenue of $1,024 million in 2005.

History

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Sensient Technologies was founded in 1882 as Meadow Springs Distilling Company. In the late 19th century, the Company changed its name to National Distilling Company. By 1919 the company was threatened by prohibition but by then it had created a business selling yeast under the Red Star Yeast brand. Accordingly, the company changed its name to Red Star Yeast and Products Company.

By the 1960s, the company had become a highly diversified food company and changed its name again to Universal Foods Corporation. In 1977 the company listed its stock on the New York Stock Exchange.

Current CEO Kenneth P. Manning joined the company in 1987 as Group Vice President. He was named CEO in 1996 and moved the company in a new direction by building upon its strengths and knowledge in the areas of color and flavor.

In 2000, Universal Foods Corporation renamed itself Sensient Technologies Corporation (Sensient is a contraction of Sensory Ingredient according to the company). In 2001, Sensient sold Red Star Yeast in an effort to divest itself of less profitable commodity businesses.

Since 1997, Sensient Technologies Corporation has acquired 20 companies.