Ambienta's Nactarome buys Create Flavours

Alessia Argentieri
12 May 2020

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Ambienta's Nactarome has acquired Create Flavours, a UK-based producer of natural flavours for the food and beverage industry.

With this deal, Nactarome expects to expand the group's presence to the UK market and enlarge its product offering by adding a new range of natural top notes.

Ambienta bought Italian natural flavours and colours producer Aromata in November 2018 in a deal that valued the business at around €60m. The GP deployed capital from its Ambienta III fund, which held a first and final close on €635m in May 2018, hitting its hard-cap and exceeding its original €500m target.

Ambienta expanded its portfolio company's market position with the add-on of breadcrumbs and food ingredients maker Industrie Prodotti Alimentari Manenti in July 2019.

Subsequently, in January 2020, Aromata bolted on France-based Nactis Flavours, a producer of aromatic raw materials, ingredients and flavours for the food and beverage industry.

The combined group was rebranded as Nactarome. It is 80% owned by Ambienta, while the remainder is controlled by Aromata and Nactis minority shareholders and managers.

Nactarome is a platform focused on the natural flavours, colours and aromatic raw materials market, with a customer base of 4,200 clients. It generates EBITDA of around €15m from revenues in excess of €110m.

Company
Headquartered in Clevedon, Create Flavours is a producer of natural top-note flavours for the food and beverage industry.

The company has a product portfolio of 20,000 proprietary technologies for optimisation of powder flavours and a client base composed of 200 UK and international food brands.

People
Ambienta – Mauro Roversi (partner, chief investment officer).
Nactarome – Udo Wenzel (executive chair).
Create Flavours – Jonathan Jones (chair, founder).

Advisers
Equity – Roland Berger (commercial due diligence); KPMG (financial due diligence); Pedersoli (legal); Mills & Reeve (legal).
Company – RSM (financial due diligence); WBD (legal).