Whole Earth Brands closes business combination with Merisant and MAFCO

Whole Earth Brands has announced that it has concluded business combination transaction with Flavors Holdings subsidiaries Merisant Company (Merisant) and MAFCO Worldwide (MAFCO).

Merisant is engaged in the production of calorie-free and low-calorie sugar substitutes while MAFCO produces natural liquorice products.

Whole Earth Brands executive chairman Irwin Simon said: “I am enthusiastic about the opportunity to create Whole Earth Brands and help craft its strategy in the industry where I spent my entire career and built powerful brands.

“We have created a global, industry-leading platform, focused on food products and ingredients in rapidly growing categories driven by powerful macro trends that we believe are permanently changing the way food is consumed.

“We have an accomplished team capable of strengthening our leadership in our core markets as the shift away from sugar accelerates and demand for natural ingredients intensifies.”

With the completion of the transaction, Whole Earth Brands is expected to be a global leader in healthy, natural and zero-calorie foods and ingredients.

Going further, Whole Earth Brands intends to expand its branded products portfolio through new investment opportunities in the natural alternatives and clean label categories.

Whole Earth Brands CEO Albert Manzone said: “We are very pleased to complete the formation of Whole Earth Brands through this business combination. We have two strong franchises and a significant industry tailwind.

“We continue to be impressed by the scaleable platform our business offers with significant operating leverage. We now have the financial resources to expand through strategic consolidation, grow in adjacent markets and enter on-trend branded health and wellness categories.

“Our team recognises the opportunity this transaction has presented. We are ready to seize the moment.”