Iberchem Group announced that it has completed the acquisition of Flavor Inn Corporation and Duomei, two flavour companies located in Malaysia and China respectively.
The terms of the transaction were not disclosed.
These transactions come as the latest effort in the Group’s merger and acquisition strategy initiated last year with the purchase of South Africa’s Versachem. It brings to three the number of acquisitions carried out since the start of the Group’s financial relationship with European private equity firm Eurazeo in 2017.
Ramón Fernández, CEO of Iberchem Group states: “This announcement represents another key step in the strategic expansion of Scentium (the flavour division of the Iberchem Group) in Asia, and also in the roll-out of our M&A strategy at a Group level. We are confident that both companies will add value and expertise to our existing Flavour offer in China and South East Asia. Both Duomei and Flavor Inn share Scentium’s customer-centric culture and values.”
Founded in 1996, Flavor Inn is a Malaysian flavour manufacturer offering tailored-made solutions to its wide portfolio of customers in the South East Asian region. Flavor Inn Corporation specialises in the development of both natural and artificial flavours for beverages, savoury, bakery and dairy products, and confectionery.
Nanchang Duomei Bio-Tech Co., Ltd (Duomei) is a flavour manufacturer based in Nanchang, capital of Jiangxi province in China. Established in 2008, the company quickly gained a reputation within the Chinese flavour industry thanks to its innovative manufacturing methods and dedicated customer service.