CSM Ingredients acquires Hi-Food
Luxembourg-based CSM Ingredients is a global ingredients research and production company that has been owned by Investindustrial for almost a year.
According to the business, the move is a continuation of Investindustrial’s strategy of “proactively shaping the future of food by acquiring and building innovative and sustainable companies in the sector”.
A strategic move
Andrea Bonomi, Chairman of Investindustrial’s Industrial Advisory Board, commented: “We are delighted that a new partnership has been created, with our support, between CSM Ingredients and Giampaolo Cagnin and his excellent team at Hi-Food.
“The research and development that has distinguished Hi-Food since its foundation is a perfect complement to the industrial platform that we began to build in the ingredients sector with the acquisition of CSM Ingredients in April 2021.
“Investindustrial has taken a long-term interest in the evolution of the sectors surrounding food sustainability, such as food production, ingredients, nutritional supplements, packaging and closures.”
He added that in the past five years, the company has made eight new platform investments in the sectors, investing €1.5bn of equity. Those companies have, in turn, made another 11 add-on acquisitions, and currently collectively employ around 10,300 employees.
CSM – which has more than 1,400 staff, three research and innovation centres, eight production plants and two innovation hubs – will now add to its portfolio an Italian ingredient-tech hub dedicated to uncovering transformative solutions for the world of food.
Planning for the future
Commenting on the deal, Aldo Uva, CEO of CSM Ingredients, said: “As part of CSM Ingredient’s innovation and strong expansion, Hi-Food represents excellence in the quest for solutions that can contribute to the sustainable evolution of the food industry.
“The acquisition allows us to create a perfect blend between the operational solidity, the global footprint and the professional know-how of CSM Ingredients with the visionary and pioneering spirit of Hi-Food, helping to accelerate the propulsive reality for the future of food.
“The acquisition of Hi-Food is the first milestone of our ongoing R&D worldwide effort, that, in the medium term, will exceed €200m in investments.”
As part of the deal, Hi-Food shareholders will reinvest their funds into CSM Ingredients, while taking on responsibilities in research and development as well as commercial management.
Giampaolo Cagnin, Founder of Hi-Food, who will join the CSM Ingredients advisory board, added: “The scientific approach and Hi-Food innovations will find in CSM Ingredients an ideal launching pad and reciprocal multiplication of value. With Investindustrial’s determination to help shaping the ingredients industry towards a more sustainable future, I consider this to be a perfect alliance with extraordinary potential for value creation.”
