Aromatic Fragrances & Flavors International


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Background


When Aromatic Fragrances & Flavors International (AFF) needed to move its manufacturing operation to a larger facility, the owners wanted to confidentially explore the possibility of selling the company as an alternative to incurring substantial relocation costs, as well as a long-term manufacturing lease commitment. A transaction, however, needed to be executed within a very short timeframe, and under strict confidentiality to avoid the uncertainties and risks typically associated with rumors surrounding corporate transactions.

Opportunity


Organic growth within the flavor and fragrance industry had cooled, and a period of intense supplier consolidation was underway. AFF's owners knew their "client book" would be a valuable addition to a larger suppliers portfolio, but were not sure of who to approach, or what a fair market value for their company would be.

Exit Strategy


Using a highly targeted approach, Conexus Capital Advisors contacted a select group of corporate buyers who were primarily interested in AFF's customers, relationships, product-lines and technologies. Acting quickly, Conexus was able to secure several attractive offers for AFF while preserving the confidentiality of the transaction.

On July 25th, 2006 Aromatic Fragrances & Flavors International was acquired by Mastertaste Inc., the global flavor and fragrance subsidiary of the Kerry Group, PLC. The deal proved to be a logical choice for Mastertaste as the company was interested in expanding its presence in fragrances sold to major national and international private label companies. Mastertaste was also in the position to help AFF develop some of its technologies faster, and on a broader scope, with fewer capital limitations.





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