CSM Ingredients has announced the acquisition of Hi-Food, an Italian food-tech company specialising in the research, development and production of natural origin ingredients.
Founded in 2012 in close collaboration with the University of Parma, Hi-Food develops solutions for the plant-based and clean label food industry using selected ingredients of natural origin and free of chemical additives.
CSM Ingredients is held by investment companies of Investindustrial, which described the acquisition as a continuation of its strategy of ‘proactively shaping the future of food by acquiring and building innovative and sustainable companies in the sector.’
The shareholders of Hi-Food will reinvest their proceeds into CSM Ingredients and take on roles in R&D and commercial management. In the coming months Hi-Food will complete in Italy the construction of ‘one of the most modern and advanced plants’ for the production and processing of natural, plant-based ingredients free of allergens and synthetic additives.
“The future of food”
Andrea C Bonomi, chairman of Investindustrial’s Industrial Advisory Board, said: “The research and development that has distinguished Hi-Food since its foundation is a perfect complement to the industrial platform that we began to build in the ingredients sector with the acquisition of CSM Ingredients in April 2021.
“Investindustrial has taken a long-term interest in the evolution of the sectors surrounding food sustainability, such as food production, ingredients, nutritional supplements, packaging and closures. Over the last five years, we have made eight new platform investments in these sectors, investing €1.5 billion of equity. Those companies have in turn made another 11 add-on acquisitions, and currently employ a total of approximately 10,300 employees.”
Aldo Uva, CEO of CSM Ingredients, commented: “As part of CSM Ingredients’ innovation and strong expansion, Hi-Food represents excellence in the quest for solutions that can contribute to the sustainable evolution of the food industry. The acquisition allows us to create a perfect blend between the operational solidity, the global footprint and the professional know-how of CSM Ingredients with the visionary and pioneering spirit of Hi-Food, helping to accelerate the propulsive reality for the future of food.
“The acquisition of Hi-Food is the first milestone of our ongoing R&D worldwide effort, that, in the medium term, will exceed €200 million in investments.”
