FMC Corporation Acquires Phytone
FMC Corporation announced the acquisition of Phytone Ltd., a leading natural colors producer based in the United Kingdom. Phytone's natural products and formulations are used by global customers in the food, beverage, personal care and nutrition sectors.
"This acquisition underscores our commitment to grow FMC's new natural colors portfolio, and represents another important step in our Vision 2015 growth strategy," said Pierre Brondeau, president, CEO and chairman, FMC Corporation. "We expect the high-growth, natural colors market to reach well over $1 billion by 2015. The addition of Phytone's unique color technology, coupled with our acquisition last year of Chilean-based South Pole Biogroup, greatly strengthens our position in this exciting market."
There is a growing demand from consumers that favor natural ingredients from renewable and sustainable sources, according to Mike Smith, division manager, FMC BioPolymer. Consumer product goods companies are seeking reliable sources of natural ingredients with consistent functionality, including natural colors, to meet their product development needs.
"Phytone further expands FMC's natural colors capabilities and augments FMC BioPolymer's industry leading, naturally sourced specialty ingredients that are used across food, pharmaceutical and personal care markets for texture, binding, stabilization and appearance," said Smith.
"We're excited to welcome Phytone to FMC," said Smith. "The company brings more than 20 years of leadership and deep experience in the natural colors and nutraceuticals industry, and will extend FMC's natural color formulation and processing capabilities. Furthermore, Phytone is ideally situated in the United Kingdom, which will enhance our service to European color customers."
Phytone's manufacturing, development labs and headquarters office are located in Staffordshire, U.K. Terms of the transaction were not disclosed.
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