M&A in organic food and dietetics: AgroFresh buys Tecnidex's 75% and AB-Biotics sells its AB-Fortis product to Frutarom
13/11/2017
Diego Gutiérrez
M&A in organic food and dietetics: AgroFresh buys Tecnidex's 75% and AB-Biotics sells its AB-Fortis product to Frutarom
We analyse the latest major M&A deals in organic food and dietetics. The multinational AgroFresh has acquired 75% from the Valencian company Tecnidex, while the Catalan company AB-Biotics sells its dietary supplement AB-Fortis to Frutarom.

The multinational AgroFresh acquires the 75% from Tecnidex.

AgroFreshthe world leader in post-harvest treatments for the horticultural sector and listed on the New York Stock Exchange, has announced the acquisition of the 75% from Tecnidex.

Tecnidex is a Spanish company based in Paterna (Valencia) dedicated to the development of fruit and vegetable health products and services, with an outstanding reputation and a long track record of success in the citrus market. Its portfolio of fungicides, waxes and biocides are complementary to AgroFresh's existing post-harvest business, and significantly accelerates its current diversification strategy.

The operation allows Tecnidex to benefit from AgroFresh's technologies, products, research and global distribution, as well as accelerating the geographical growth process they have just begun.

The Valencian company has a strong international presence, with its own companies in Morocco, Turkey, South Africa, Italy, Greece and Peru, and had a turnover of around €14m in 2016. Meanwhile, AgroFresh, based in Philadelphia, had a turnover of around €160M in the same period.

AB-Biotics sells AB-Fortis to Israel's Frutarom

The Catalan biotech company AB-Bioticslisted on the Alternative Stock Market (MAB), has announced the sale of its product AB-Fortis with the Israeli biotech group Frutrarom. AB-Fortis is a patented micro-encapsulation system that provides the full recommended daily amount of iron in a single dose without the metallic taste and classic side effects.

AB-Biotics' divestment of this dietary supplement is part of its strategy to focus on the development and distribution of clinically documented probiotics. For Frutarom, however, the acquisition of AB-Fortis is a further step in its growth strategy in dietary supplements, speciality food ingredients, cosmetics and pharmaceuticals.

Frutarom is one of the world's leading flavours and ingredients groups with 60,000 products and around 30,000 customers in 150 countries.

AB-Biotics, founded in 2004 by Sergi Audivert and Miquel Ángel Bonachera and based in Sant Cugat del Vallés (Barcelona), is a biotech listed on the MAB since 2010. The Catalan company posted losses in the first half of this year amounting to €769,000, which represents 83% less than in the same period of 2016. In addition, its turnover rose by 71% to €3.39M.

Investment rounds in organic food and dietetics in 2017

 

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