A new operation reaches the always competitive Spanish agri-food market. The American biotech giant Kensing has just announced the acquisition of the Spanish company Vitae Natural.
This company, founded in 2000 as Vitae Caps, is specialized in the production of different types of antioxidants. Among them, natural vitamin E stands out, in which it is the leader throughout Europe, as well as in sterol esters, a segment in which it is the world leader. It has a wide portfolio of clients that resort to those chemical products that they produce to introduce into their food, such as Coca-Cola or Bimbo. It works, in addition to food products, also for nutrition and skin care.
The transaction, which has been advised by investment bank Clearwater, means that the Spanish company is integrated into an international group, participated by the venture capital fund One Rock Capital. This company has almost 70 years of history and is specialized in the manufacture of chemical products. In addition to having clients in the world of food, it also serves companies in personal and home care, pharmaceuticals and agriculture.
The American group is launched by the Spanish company with the idea of reinforcing the production of natural and healthy antioxidants. Plant esters help lower cholesterol and are used to produce butter or yoghurt suitable for this ailment. Vitamin E, meanwhile, is used as a natural antioxidant. The Spanish firm is in a key market, given the pressure from consumers and investors on large consumer groups to promote healthy and transform their foods to healthier ones. In this trend, Vitae Naturals has increased its turnover by 20% in the last three years.
“This acquisition is very complementary, it strengthens our presence in Europe and allows further expansion in food ingredients. This is an exciting time for both companies and we look forward to partnering with the Vitae team to accelerate our growth goals,” said Serge Rogasik, CEO of Kensing.
The company closed the year 2021 with a turnover of 25 million euros. The ebitda has been around five million euros. The high appetite of the market for this type of company has raised the firm’s valuation above five times EBITDA, which yields a value of around 50 million euros.
One of the main attractions of Vitae Naturals has been its international vocation. From its plant in Talavera de la Reina, and with a workforce of around 40 employees, it manufactures its products for clients in fifty countries on five continents.
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