MITSUI & CO takes majority stake in NUTRINOVA NETHERLANDS
Context
Mitsui & Co., Ltd., a diversified Japanese trading and investment group, expands its presence in functional food ingredients through the acquisition of a majority stake in Nutrinova Netherlands B.V. from Celanese Corporation. The transaction supports Mitsui’s broader strategy of strengthening its Nutrition & Wellness platform and increasing exposure to high-value food ingredient categories. Nutrinova specialises in the production and distribution of high-intensity sweeteners and food preservation solutions supplied to food and beverage manufacturers worldwide. Its product portfolio addresses long-term industry trends including sugar reduction, healthier product formulations and shelf-life extension. The company serves a diversified customer base that includes major global food and beverage producers. Beyond expanding its footprint in nutrition and health-related markets, Mitsui aims to leverage commercial synergies with its existing food and specialty ingredient activities.
NUTRINOVA NETHERLANDS, which reported an EBITDA margin of in 2022, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the AgriFood sector (10.7x).
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Target
Nutrinova Netherlands B.V. is a specialised producer of functional food ingredients serving the global food and beverage industry. Originating from a business developed within Celanese Corporation since the 1960s, the company has established positions in high-intensity sweeteners and food preservation solutions. Its ingredients are used across beverages, dairy products, confectionery, prepared foods and other applications requiring specialised formulation capabilities. Nutrinova manufactures and markets acesulfame potassium (Ace-K), a high-intensity sweetener used in reduced-sugar formulations, as well as sorbic acid and potassium sorbates, which are widely used as food preservatives. The company serves a global customer base comprising leading food and beverage manufacturers and operates within a highly regulated environment requiring consistent product quality, regulatory compliance and reliable supply.
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| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2023 | ROYAL UNIBREW | VRUMONA | NETHERLANDS | Soft Drinks |
| 07/2023 | MALTERIES SOUFFLET | UNITED MALT GROUP | AUSTRALIA | Food Processing |
| 06/2023 | MITSUI & CO | EURICOM | ITALY | Food Products |
| 06/2023 | HEINEKEN | OEDIPUS | NETHERLANDS | Wines & Spirits |
| 06/2023 | PERNOD RICARD | ACE BEVERAGE GROUP | CANADA | Wines & Spirits |
| 06/2023 | IK PARTNERS | GOODLIFE FOODS | NETHERLANDS | Food Products |
| 06/2023 | RIELLO INVESTIMENTI PARTNERS | IL FORNAIO DEL CASALE | ITALY | Bakery / Pastry |
| 06/2023 | 3I | PANELTO FOODS | IRELAND | Bakery / Pastry |
| 05/2023 | GREENYARD | GIGI GELATO | NETHERLANDS | Food Products |
| 05/2023 | MADEMOISELLE DESSERTS | GALANA (PASTRY & ICE CREAM) | BELGIUM | Bakery / Pastry |
REFERENCES
Valuation range: EV 500M - 1.5b USD
Revenue range: 100M - 200M USD
EBITDA range: 25M - 50M USD
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: nutrinova netherlands
Acquirer: mitsui & co