Firmenich, a privately-owned perfume and flavor company, has reached an agreement with First Eagle Investment Management to acquire the stake held by its advisory clients in Robertet, representing approximately 17% of the share capital.
“With its strong naturals portfolio in perfumery, flavors, and ingredients, Robertet is well positioned to benefit from consumers’ continued demand for authentic natural products,” said Gilbert Ghostine, CEO of Firmenich. “This investment is fully in line with our vision for sustainable and natural solutions.”
Firmenich is prepared to be a passive long-term shareholder of Robertet alongside the Maubert family. Firmenich is also open to having discussions for a larger participation or establishing a broader collaboration to support the long-term success of the company. Should it be invited to do so, Firmenich may also consider taking a controlling interest in Robertet.
The United States and Japan announced the expansion of their organic equivalence arrangement to include livestock products.
BlueNalu, a food technology company developing cell-based seafood products, has announced the signing of a Memorandum of Understanding (MOU) with Pulmuone, a maker of healthy and environmentally friendly food products headquartered in South Korea.
Cargill has announced a partnership with a local manufacturer in western India to launch its first chocolate manufacturing operation in Asia.
The U.S. Food and Drug Administration (FDA) has announced improvements to the functionality and appearance of two types of export certificates issued for human food products exported from the United States.
According to The New York Times, Christopher Lischewski, former president and CEO of Bumble Bee Foods, has been sentenced to 40 months in jail and a $100,000 fine for his role in a three-year conspiracy to fix prices of canned tuna.
Ohio Valley Section IFT Suppliers' Lecture and Expo
West Chester, Ohio, United States