HÖRSHOLM, DENMARK — Oterra announced on Dec. 29 that it has closed its acquisition of the Diana Food’s color business from Symrise AG. Financial terms of the agreement were not disclosed.
The transaction was first announced in September.
Oterra said it now will begin working to fully integrate Diana Food’s natural food color business into its portfolio as soon as possible. The transaction includes facilities in Cossé, France, and Holbeach, United Kingdom, and gives Oterra a total of 10 production sites.
“Diana Food’s is the king of red beet, having grown them for natural coloring for more than 30 years,” said Odd Erik Hansen, chief executive officer of Oterra. “Their innovation and expertise will be strong additions to our portfolio. I look forward to not only offering Oterra’s customers a wider portfolio, but also having the opportunity to open the industry’s most comprehensive portfolio up to existing Diana customers.”
The acquisition of Diana Food’s color business follows Oterra’s acquisition of SECNA Natural Ingredients Group SL.Oterra was formally known as Chr. Hansen Natural Colors A/S. The company adopted the new name, which means “earth” in Latin, in May.