France-based Diana has completed the acquisition of Confoco in Ecuador, a manufacturer of flakes, powders and purees from tropical fruits or vegetables, for an undisclosed amount.
The acquisition, which is part of Diana's growth and development strategy on its key markets, will allow the company to strengthen its baby food offerings in tropical fruits based solutions.
Established in 1962, Confoco is specializes in the manufacture of flakes, powders and purees from tropical fruits or vegetables such as banana, pineapple, mango and pumpkin at its production site in Pasaje, Ecuador.
The company generated a turnover of $13m in 2012, including sales to the North American market through its US distribution entity Confoco USA which has been included in the transaction.
Diana Food Division president Jean-Yves Parisot said that this acquisition brings the Food Division of Diana an industrial presence and key raw material sourcing in Ecuador.
"This operation represents an excellent development and growth opportunity, in particular thanks to the complementary expertises of Confoco's sourcing control and Diana's leadership position in Baby Food," Parisot added.
Diana offers natural functional solutions for the food, pet food, nutraceuticals, aquaculture and cosmetics industries. It is also a technology leader in plant cell culture, dedicated to the production of active ingredients for food, cosmetics and health.
