French food company Groupe Avril is to strengthen its control of the ingredients market through the acquisition of Novastell, which specialises in lecithins and phospholipids.
The deal increases Avril’s presence in the business-to-business vegetable oil market, both in France further afield.
It says that the takeover, which is part of the Avril oil and ingredient solutions strategy, will ‘favour numerous synergies and complementary solutions, and enable the Group to continue developing innovative solutions for its customers'.
New Opportunities
Director of the Avril oil and ingredient solutions platform, Olivier Tillous-Borde, said, “After the development in 2017 of two units for sunflower lecithin, a natural emulsifier which offers a promising alternative to soy lecithin, the acquisition of Novastell will accelerate the growth of our activities in France and internationally, while increasingly focusing on providing responses to the needs of our customers."
Pierre Lebourd, chairman and founder of Novastell, added, “These new ties between Novastell and Avril will allow us to pursue the development of new opportunities and solutions for industry.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. Click subscribe to sign up to ESM: The European Supermarket Magazine.
