RSM’s M&A and Private Equity team and law firm Womble Bond Dickinson have successfully advised on the sale of Create Flavours to the European Nactarome Group, funded by European private equity house Ambienta.
Based in Bristol, Create Flavours has grown to become one of the UK’s leading mid-tier natural flavourings specialists. The highly successful management team including Jonathan Jones (Managing Director), Nick Dyson (Technical Director) and Bryan Jones (Commercial Director) will remain as a part of the Create Flavours division and wider group, in order to guide the business through its next stages of growth.
Nactarome is undertaking a buy-and-build project to create a market leading business focussing on servicing mid-sized food manufacturers. The group was formed in 2018 following the acquisition of the Italian Aromata Group with two further acquisitions in 2019 of IPAM and French based Nactis.
Create Flavours will further complement the combined group and enhance its unique capabilities bringing new production solutions, R&D and state-of-the art productions facilities across mainland Europe.
The RSM team that worked on the deal included Ian Wherry, Stephanie Wilson, Rhys Jennings and Ryan Keen.
Ian Wherry, corporate finance partner for RSM, said: 'It has been a pleasure working with the Create Flavours shareholders to find a strategic partner for the business. This acquisition is a fantastic inward investment opportunity for Nactarome and the Aromata Group and demonstrates the UK is an attractive market in the sector. It also provides the management team with an exciting opportunity to grow and expand the business further whilst being part of an international group. I wish Ambienta the best for the project they have embarked on and I would like to thank them for their professionalism and reliability throughout the process.'
Jonathan Jones, Founder and Chairman of Create Flavours, commented: 'We would like to extend our thanks to RSM and Womble Bond Dickinson for their professionalism and support. They ran an exceptional process which generated global interest in our business. Their advice was invaluable, steering us through the process, and achieving a fantastic result despite the current global coronavirus pandemic. We are delighted to join forces with Nactarome and tap into its significant technical and operational resources. This move will strengthen our innovations, products and abilities to provide our clients across the UK and Ireland with the highest service standards.'
Tom Fitzpatrick, partner at Womble Bond Dickinson, commented: 'It is always satisfying to help founders realise value from their business, and even more so when they are able to continue to participate in the future growth of the enlarged group. The worldwide coronavirus pandemic and lockdown presented a number of challenges on this deal, but those were overcome with a combination of confidence, innovation and pragmatism. We wish Jonathan and his team all the best in realising Nactarome's vision to be a European leader in natural ingredients.'