Hørsholm, Denmark — Oterra announced Sept. 9 that – further to its press release dated June 17 of this year that outlined its intent to acquire Diana Food’s natural food coloring business – both parties have today signed the transactional agreement.
Following the completion of the transaction, Oterra will fully integrate Diana Food’s natural coloring business into its offering. Diana Food is currently owned by Symrise AG, a global supplier of fragrances, flavors, food, nutrition, and cosmetic ingredients.
This is the second acquisition in a short period of time for Oterra, an EQT portfolio company, who acquired SECNA Natural Ingredients Group S.L in June of this year. For Oterra CEO, Odd Erik Hansen, these acquisitions are a vital part of the company’s strong growth ambitions.
"Consumers these days know what they want, and all research shows that the demand for natural food colors continues to grow strongly. The market is expected to reach $3.2 billion by 2027 – and adding companies with complementary strengths and offering to our business will enable us to best help our customers on their journey towards natural,” said Hansen.
The absorption of SECNA, and Diana Food’s natural coloring business, cements Oterra’s position as a supplier of natural colors with the widest portfolio in the industry.