FMC Corporation Acquires Phytone, Ltd., a Leading European Natural Colors Business
PHILADELPHIA, June 13, 2012 – FMC Corporation (NYSE:FMC) announced today the acquisition of Phytone Ltd., a leading natural colors producer based in the United Kingdom. Phytone’s natural products and formulations are used by global customers in the food, beverage, personal care and nutrition sectors.
“This acquisition underscores our commitment to grow FMC’s new natural colors portfolio, and represents another important step in our Vision 2015 growth strategy,” said Pierre Brondeau, president, CEO and chairman, FMC Corporation. “We expect the high-growth, natural colors market to reach well over $1 billion by 2015. The addition of Phytone’s unique color technology, coupled with our acquisition last year of Chilean-based South Pole Biogroup, greatly strengthens our position in this exciting market.”
There is a growing demand from consumers that favor natural ingredients from renewable and sustainable sources, according to Mike Smith, division manager, FMC BioPolymer. Consumer product goods companies are seeking reliable sources of natural ingredients with consistent functionality, including natural colors, to meet their product development needs.