MILAN, ITALY — CSM Ingredients has acquired Parma, Italy-based Hi-Food, which specializes within the analysis, improvement and manufacturing of natural origin ingredients. Financial phrases of the transaction weren’t disclosed.
Founded in 2012 by Giampaolo Cagnin, Massimo Ambanelli and Emanuele Pizzigalli — in shut collaboration with the University of Parma — Hi-Food has since grown by growing modern options on the planet of purposeful ingredients for the plant-based and clear label meals trade. The firm is within the strategy of finishing the development of one of the vital fashionable and superior vegetation for the manufacturing and processing of natural, plant-based ingredients, freed from allergens and artificial components. The new facility is situated in Pilastro di Langhirano (close to Parma) and shall be geared up with a everlasting high-tech extrusion analysis heart. The plant additionally will supply a number of the most superior improvement and software companies in Europe, together with a coordinated group of pilot constructions, experimental kitchens and industrial machines that may be capable to create product prototypes and new meals, Hi-Food mentioned.
As a part of the transaction, the shareholders of Hi-Food have agreed to reinvest their proceeds into CSM Ingredients, additionally taking over necessary roles within the areas of R&D and industrial administration.
“We are delighted that a new partnership has been created, with our support, between CSM Ingredients and Giampaolo Cagnin and his excellent team at Hi-Food,” mentioned Andrea C. Bonomi, chairman of Investindustrial’s industrial advisory board. Investindustrial acquired CSM in April 2021. “The research and development that has distinguished Hi-Food since its foundation is a perfect complement to the industrial platform that we began to build in the ingredients sector with the acquisition of CSM Ingredients in April 2021. Investindustrial has taken a long-term interest in the evolution of the sectors surrounding food sustainability, such as food production, ingredients, nutritional supplements, packaging and closures. Over the last five years, we have made eight new platform investments in these sectors investing €1.5 billion of equity. Those companies have in turn made another 11 add-on acquisitions, and currently employ a total of approximately 10,300 employees.”
Mr. Cagnin, founding father of Hi-Food, who will be a part of the advisory board of CSM Ingredients, added, “The scientific approach and Hi-Food innovations will find in CSM Ingredients an ideal launching pad and reciprocal multiplication of value. With Investindustrial’s determination to help shaping the ingredients industry towards a more sustainable future, I consider this to be a perfect alliance with extraordinary potential for value creation.”
CSM Ingredients has greater than 1,400 staff, three analysis and innovation facilities, eight manufacturing vegetation and two open-innovation hubs.