Capol acquires Canadian natural food additive maker Colarôme
Capol, a German company providing coatings solutions to the confectionery industry, has acquired Colarôme, a Canadian manufacturer of natural food additives, for an undisclosed amount.
The German coatings solution is part of the Freudenberg Chemical Specialities, which is a unit of global technology company Freudenberg.
Freudenberg is expanding its presence in the food industry through this acquisition.
Freudenberg Chemical Specialities president and CEO Hanno Wentzler said: "Additives for the food industry are an attractive market segment in the long-term.
"Having Colarôme now in our portfolio, we will be able to strategically develop this business segment.
"Both Capol and Colarôme have very similar business models, so we expect a swift integration into Capol."
As per the deal, Capol has acquired Colarôme’s production facility located in Canada.
Colarôme holds production technology patents, which enable it to manufacture a unique line of natural pigments. It is also engaged in the production of flavourings and natural vanilla extracts, while it has 17 employees.
Capol supplies anti-sticking agents for gums and jellies, glazes and polishing agents for sugar dragées, and chocolate-coated centres.
Capol CEO Christian Hauk said: "For Capol, the acquisition generates substantial synergy effects. We will be even better able to offer and develop products that precisely meet our customers' requirements.
“The acquisition is a further step to expanding our position as an industry leader for coatings in the confectionery industry.”