FMC Corporation acquires UK-based natural colors company
Philadelphia-headquartered FMC Corporation has acquired UK-based natural colors producer Phytone Ltd, as part of a strategy to increase its natural colors capabilities, the company said.
Financial details of the transaction were not disclosed, but the company’s FMC BioPolymer division manager Mike Smith said that the move taps into growing demand for natural ingredients worldwide, and would improve the company’s service to European customers.
President, CEO and chairman of FMC Corporation Pierre Brondeau said in a statement: "We expect the high-growth, natural colors market to reach well over $1 billion by 2015. The addition of Phytone's unique color technology, coupled with our acquisition last year of Chilean-based South Pole Biogroup, greatly strengthens our position in this exciting market."
