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Agilex Announces Additional Details of Flavor Division Divestment
Posted: November 10, 2010
Following last week's announcement by Kerry Ingredients & Flavours, Agilex Flavors and Fragrances (Upper Saddle River, New Jersey) has acknowledged that it has divested its flavor division, Key Essentials Inc. Following its divestment, the company has been renamed Agilex Fragrances. Financial details were not disclosed. The deal adds capabilities in sweet and fruit flavors and flavor masking technology, in addition to key customer relationships, to Kerry's business.
“Key has grown very quickly over the past several years and has benefited from the positive trends in the health and wellness industry," said Agilex CEO Tom Lamb. "Kerry is inheriting an excellent business with attractive growth prospects. We are pleased with the transaction and now look forward to focusing on the continued success of our Fragrance business.”