Synergy expands reach with acquisition of natural flavours group Janoušek

14-May-2018 - Last updated on 12-May-2018 at 08:34 GMT

Synergy eyes fresh markets with acquisition ©iStock

Synergy Flavours, part of the Carbery Group, is growing its regional presence in Europe through the acquisition of Janoušek, an Italian company that supplies natural flavouring throughout Italy and Eastern Europe.

Synergy said the 135-year-old company is “one of the first” suppliers of herbal extracts and natural flavourings.

Financial details of the transaction and business performance are confidential but Synergy said Janoušek is a "well run business" and added that it does not have plans "for major or immediate changes". Janoušek’s production facility is based in Trieste, northern Italy.

Building on Janoušek’s base

Synergy CEO Steve Morgan told FoodNavigator that the deal will enable Synergy to extend its presence in both Italy and Eastern Europe, where Janoušek supplies customers with natural flavours.

This will grow Synergy’s regional reach. Prior to the deal, Synergy operated manufacturing and technical support facilities in Ireland, the UK, the US, Brazil and Thailand.

By combining the two companies’ product portfolios, Morgan also suggested Synergy will be able to grow Janoušek’s domestic and export revenue.

“Italy is a market that is known for being passionate about authentic and great tasting food and we bring new investment to the region. With our extensive experience and capabilities, we also bring further opportunity for new development and innovation in taste and flavour solutions across the food and beverage market, not just in Italy but in surrounding regions. The location of Trieste is ideally situated for further market development and opportunities - in particular, its proximity to Slovenia and Eastern Europe opens the door for us to present an extended portfolio to new and existing customers,” he explained.

Jason Hawkins, CEO of Synergy-owner the Carbery Group, added Synergy is also investing in expansion in the US, Asia and Brazil and Mexico. “Our intention is for Synergy Flavours to be positioned to support customers across the world, regardless of borders or geography. The acquisition of Janoušek gives Synergy in Europe a new home on the doorstep of Eastern Europe, potentially easier access to the Middle East and an established base to support flavour and natural ingredient manufacturing for new and existing customers in Italy and the wider region.”

Expertise in ‘Italian profiles’

Through the deal, Synergy said it is also gaining additional expertise, noting that Janoušek is “an expert in Italian profiles”.

“There are few, if any, duplications between the two businesses at present, but the acquisition of Janoušek will bring new expertise and products into our natural flavours and extracts portfolio and complements our long heritage in dairy processing in Ireland and vanilla extraction in the US,” Morgan said.

Looking to the future, Morgan said Synergy would continue to drive “rapid growth” through investment in organic growth through “careful targeted investment” in M&A. “That plan does not change with this latest acquisition.”