Roquette Signs Agreement To Acquire Sethness Products Company
Wednesday, July 18th, 2018 | 684 Views
Roquette, a global leader in plant-based ingredients for Food, Nutrition and Health markets, announced on 5 July 2018 that it has signed an agreement to acquire 100 percent of Sethness Products Company—a global leader in the production of high-quality caramel colour for food and beverage (F&B) markets.
As a family business founded in the USA in 1880 and headquarters in Skokie, Illinois, Sethness Products Company shares with Roquette values of product excellence and long-term vision: for over 135 years, the company has solely focussed on the production of caramel colour and offers the highest-quality products on the market today.
Sethness provides diverse caramel colours—in liquid and powdered forms—and a variety of clean-label caramel colour options—non-GMO, certified organic, gluten-free, allergen-free, etc. Its four manufacturing facilities located in the USA, France, India and China supply to the world’s leading F&B companies.
In addition to their shared family values, Roquette and Sethness have a strong partnership as they operate two successful joint ventures in France and in China.
The closing of the acquisition of Sethness is expected to occur in Q3 2018. It remains subject to the fulfilment of certain conditions and, until then, Sethness remains 100 percent owned and managed by the existing shareholders.
“This acquisition will help accelerate Roquette’s growth plan in the F&B market, and further drive value for our customers. We are looking forward to working with their teams to continue addressing customers’ current and future needs worldwide,” says Jean-Marc Gilson, chief executive officer of Roquette.
Chuck Sethness, representative of the Sethness family, comments: “I am pleased that Roquette, a Group with which we share common values and a long-term vision, will now continue to leverage the strong assets of both companies to reinforce its relationships with clients for the benefit of consumers globally.”