Gloucestershire food manufacturer sold to European group
By Matt Hall | 15th April 2021
County based manufacturer of award-winning specialist seasonings, glazes and marinades, TasteConnection Limited has been acquired by Nactarome Group, in a deal funded by Ambienta.
Established in 2002 and based in Wotton-under-Edge, TasteConnection was created to connect specialist seasonings, provenanced ingredients and forthcoming food trends with market leading brands and premium own label products.
Nactarome Group is a European-based flavours and natural ingredients company. This latest acquisition is Nactarome's second in the UK market, following the acquisition of Create Flavours last year, which was also advised by RSM and WBD.
Nactarome said the addition of TasteConnection to its portfolio will allow to expand its UK capabilities whilst benefitting from an array of synergies between its two UK operations.
Accountants RSM, alongside law firm Womble Bond Dickinson (WBD), advised on the buyout.
Ian Wherry, corporate finance partner for RSM, said: 'We are delighted to have helped the TasteConnection shareholders to find a strategic partner for the business.
"This acquisition allows Nactarome and the Aromata Group to expand its platform further with another high-quality UK based investment. It also provides the managing shareholders the opportunity to become part of an international group alongside Create Flavours with whom they have had a long-standing relationship."
The TasteConnection management team will remain as a part of the TasteConnection division and wider group to guide the business through its next stages of growth.
Andrew Sainsbury, co-founder of TasteConnection, said: "We see this acquisition as a great fit for both of our organisations, and believe TasteConnection will strongly complement the wider group."
Tom Fitzpatrick, corporate partner at WBD, added: "we are seeing a lot of "bolt-on" acquisitions where private equity backed businesses are growing through M&A deals as well as organically.
"It has been great to sell another business to Nactarome, who clearly have an appetite, and we are seeing more of Ambienta in the UK. I wish the TasteConnection team all the best with their continued growth."
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