Naturex resumes quest for strategic acquisitions

By staff reporter

- Last updated on GMT

Related tags: Business terms, Naturex, Us

Naturex is in a position to start looking into new acquisition
opportunities, after experiencing a massive 120 per cent increase
in sales in Q1 2006 thanks to better-than-expected organic growth
and sales from newly-acquired Pure World.

Sales for the three months reached €18.3m, compared to €8.3m in 2005. The French plant extracts supplier's acquisition of US rival Pure World last June played a major part in this, but was by no means the only factor.

Organic growth was 28.1 per cent - far and above the yearly target organic growth rate announced last March of between 10 and 15 per cent.

Despite having its headquarters in Avignon, France, over 90 per cent of Naturex's sales are generated from overseas. It is active in 30 countries outside France, and 70 per cent of sales are now in the US market.

The group said that every geographical area in which it is present contributed to the Q1 performance.

Particularly impressive was the 26.4 percent increase in activities in Asia, where the company is still in its start up phase.

Naturex originally anticipated that it would take between 18 and 24 months to integrate Pure World into its operations, but in fact it has completed the consolidation - which included a new management structure - six months ahead of schedule.

The company said in early 2005 that it was aiming to make two or three acquisitions of food and nutraceutical ingredients companies, and set out to raise €9.27 million in funding in a new share placement.

Costing $37m (€30m), or $4.30 per share in cash, Pure World was a large acquisition for the company. It has not revealed how much is in its coffers for the next steps in its strategic plan.

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