HORSHOLM, DENMARK – Oterra has entered an agreement to acquire Diana Foods' color business from Symrise AG. Terms of the agreement were not disclosed.
“Consumers these days know what they want, and all research shows that the demand for natural food colors continues to grow strongly,” said Odd Erik Hansen, chief executive officer of Oterra. “The market is expected to reach $3.2 billion by 2027 — and adding companies with complementary strengths and offerings to our business will enable us to best help our customers on their journey toward natural.”
The acquisition of Diana Foods' color business follows Oterra’s acquisition of SECNA Natural Ingredients Group SL.
Oterra was formally known as Chr. Hansen Natural Colors A/S. The company adopted the new name, which means “earth” in Latin, in May.