FMC to acquire ingredient firm Pectine Italia

US-based chemical firm FMC has entered into an agreement to acquire Pectine Italia, an Italian-based producer of pectin for the food ingredients industry, for an undisclosed amount.

This acquisition will mark FMC’s foray into the pectin market and widen its range of hydrocolloid texturants and stabilisers.

FMC Specialty Chemicals president Michael Wilson said the deal will strengthen the company’s presence in the natural-based food ingredients market.

"With our recent acquisitions of two natural food colours businesses, our entry into pectin underscores our commitment to broaden FMC’s portfolio of innovative food ingredients," Wilson added.

FMC, which caters to the agricultural, industrial, environmental and consumer markets, acquired South Pole Biogroup, a Chilean-based natural colour and speciality nutrition ingredients manufacturer, in October 2011, and UK-based colours producer Phytone in June 2012.

FMC noted that the latest deal to acquire Pectine Italia is part of the company’s Vision 2015 growth strategy, which aims to expand global reach and generate sales of $5bn and earnings before interest and taxes (EBIT) in the range of $1.2bn.

The transaction is expected to be completed in the third quarter of 2012, following which Pectine Italia will become part of FMC BioPolymer, a business unit of FMC.

FMC BioPolymer division manager Mike Smith said that pectin has grown globally over recent years due to its functionality and positive consumer image.

"FMC BioPolymer’s global resources, technical service and more than 65 years of product development, coupled with Pectine Italia’s pectin processing knowledge, will allow us to grow a new platform as an industry-leading pectin supplier," Smith added.

Pectine Italia produces pectin, a fibre primarily derived from lemon peels that is widely used as a stabiliser and thickening agent in many foods.

The company has production facilities in Milazzo, Sicily, which are strategically located near important raw material sources.

FMC BioPolymer supplies naturally-derived alginate, carrageenan, microcrystalline cellulose and natural colours to the global food, pharmaceutical, personal care and specialty markets.