Treatt, the London-listed food and drink flavourings company, is set to be acquired by ingredient business Natara in a deal valued at £156.6 million. Natara, backed by private equity firm Exponent, will pay 260 pence per Treatt share, reflecting a 16.1% premium on Treatt’s closing share price last Friday.
The takeover will require court approval and is expected to conclude later this year. Treatt produces natural extracts and ingredients for food, fragrance, and consumer sectors, and has recently faced weaker sales, particularly in North America, which prompted a revision of its sales and profit forecasts.
Natara, which develops flavours and aromas for the food and fragrance industries, was acquired by Exponent in 2023. The deal is expected to combine complementary product lines, expand market reach, and provide additional investment to support growth and innovation. Treatt’s board has recommended the offer as fair and in shareholders’ interests.
The acquisition positions both companies to scale operations, broaden their offerings, and enhance their presence in international markets while leveraging shared resources and expertise across teams.