Japanese conglomerate Marubeni has struck a deal to buy full control of Netherlands-based herbs and spices manufacturer Euroma.
The two companies have reached an agreement that will see Marubeni, which acquired a 30% stake in Euroma in 2021, become its sole shareholder.
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The transaction is subject to approval by competition officials in the Netherlands.
Financial details have not been disclosed.
Euroma CEO Bert Bakker described Marubeni as a “long-term strategic partner” with which the company can “accelerate its international growth”.
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“We are very excited that Marubeni acquires the remaining shares in Euroma and see this as a confirmation of the unique knowledge and expertise that Euroma offers in the development and creation of natural food solutions,” Bakker said in a statement.
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By GlobalDataBakker added Euroma had “made impressive steps on its journey,” since Marubeni’s investment in 2021. He also thanked Parcom and Robert Hoogstra “for the dedication and support they have given” the company.
In 2017, Hoogstra, Euroma’s then CEO and owner, sold a chunk of his shares to investment firm Parcom.
Jun Horie, senior managing executive officer of Marubeni, described the deal as “an important strategic move for Marubeni”.
“We see that the food ingredients market, especially herbs and spices, is steadily growing, driven by consumer trends such as clean label, natural flavour and salt-reduction and so on,” Horie said.
Horie added Marubeni sees “great potential to introduce the expertise of Euroma outside Europe by leveraging Marubeni’s global footprint and customer base”.
According to a statement from Euroma, the proposed transaction will not affect its staff.
The company will “continue to operate independently, with its own board of directors and supervisory board”, it added.
Tokyo-headquartered Marubeni has interests across sectors including food, chemicals and energy.
Euroma is headquartered in Zwolle, a city in the centre of the Netherlands. It produces herbs, spices and seasonings under the Euroma brand name but it also manufactures meal solutions, sauces and other food products.
The spice and herb manufacturer has three production facilities: one in Zwolle, another further south in Nijkerk and a third further south again in Schijndel.
