French oilseed and protein company Avril Group (Avril) has signed an agreement to acquire lecithins and phospholipids producer Novastell.

The company anticipates that the acquisition will further its valorisation and marketing capabilities of vegetable oils and ingredients for business-to-business (B2B) markets.

In line with Avril's strategy, the acquisition focuses on structuring its oils and ingredients product range.

“We are very much looking forward to welcoming the Novastell teams as they join the Avril Group.”

Earlier this year, the company created Avril Oil & Ingredient Solutions, a new marketing and innovation platform within Avril’s Oilseeds Processing Business Line.

This platform aims to manage products offered by the group’s subsidiaries such as Expur Saipol, Lesieur and Kerfoot in segments such as agrifood, nutrition and dietetics, cosmetics and pharmaceuticals.

Avril Oil & Ingredient Solutions platform director Tillous-Borde said: "After the development in 2017 of two units for sunflower lecithin, a natural emulsifier which offers a promising alternative to soy lecithin, the acquisition of Novastell will accelerate the growth of our activities in France and internationally, while increasingly focusing on providing responses to the needs of our customers.

“We are very much looking forward to welcoming the Novastell teams as they join the Avril Group.”

Avril Oil and Ingredient Solutions currently delivers a wide range of vegetable oils produced by its European facilities. It also has a dedicated research and development (R&D) team to develop specific solutions.

The deal between the two firms is expected to lead to numerous synergies, as well as complementary solutions.

Novastell chairman and founder Pierre Lebourd said: "These new ties between Novastell and Avril will allow us to pursue the development of new opportunities and solutions for industry.

“The Novastell teams will find opportunities for innovations in nutrition and health in the diversity of the skills and subsidiaries within the Avril Group, thus enabling them to better serve their customers.”