German fruit processing company Zentis has announced the acquisition of Sweet Ovations, a US-based producer of sweet ingredients for dairy, frozen dessert, bakery, beverage, and foodservice products.
Established in 1931, Sweet Ovations has two facilities: one in Philadelphia and the other near Los Angeles. It was previously owned by private equity firm Speyside Equity. The company has a manufacturing capacity of more than 65,000 tons, with annual revenues of over $100m.
Zentis noted that the acquisition expands customer reach and enables it to further develop markets outside of Europe.
Zentis Food Solutions North America CEO Norbert Weichele said that the deal will allow the company to enrich its internally generated expertise in areas such as bakery products, ice cream and foodservice.
"This will provide the company with a great deal of potential for new growth," Weichele added.
Zentis operates four divisions: sweet spreads; fruit preparations for the bakery and confectionery industry; confectionery products; and fruit preparations for the dairy industry. The company employs more than 1,300 people at its main plant in Aachen and has more than 600 employees at sites in Poland, Hungary, Russia and the US.
