Naturex targets acquisitions as profits rise

By Shane Starling

- Last updated on GMT

Related tags: Organic growth, Business terms

Naturex targets acquisitions as profits rise
French botanicals supplier has seen profits rise 28% to €9.7m in the first half of 2011 compared to H1 2010, and says its policy of seeking acquisitions remains unchanged.

With sales surging 14.1% to €127.9m from €112.1m in the first semester of 2010, company founder and CEO Jacques Dikansky said the company was eyeing acquisition targets.

"The perspectives for the second half of the year are positive despite macro-economic uncertainties,”​ Dikansky said.

“We intend to continue our organic growth and our search for targeted acquisitions that provide us with synergies. Backed with our performance over the first half of the year and our ability to develop new innovative projects, we confirm the annual target for growth in revenue and profitability that were announced for 2011."

Naturex sales grew 21.6% in full-year 2010 to €226.3m from €186.1 in 2009.

In announcing those results in April this year, Dikansky said an acquisition would come in the second half of 2011.

“In 2011 we expect strong organic growth for the group and we also have a few acquisition projects ongoing. We expect to finalise something during the second half of the year. We have projects of acquisition – companies … in natural ingredients for the food industry, nutraceutical or cosmetic applications,”​ he said.

“We have companies in view between €5-20m in Europe, the US and other parts of the world.”

At the time he said the 2009 acquisition of Spanish supplier Natraceutical, along with growth in emerging markets was paying dividends for the Avignon-based company.

“We have opened a lot of sales offices in these markets and we will think about establishing production or acquiring production companies in these countries also.”

Related topics: Suppliers, Financial plays, Botanicals

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