Camlin Fine Sciences has entered into a Share Purchase Agreement (SPA) to acquire 51 percent stake in China-based Ningbo Wanglong Flavors and Fragrances Company (NWFFCL). The acquisition is subject to RBI approval and expected to be completed on or before June 30 next year. The said acquisition can also be through the company’s subsidiaries and/or group companies.
NWFFCL is a medium-sized company engaged in research, development and production of flavours and fragrances (food additives), as well as an agency of import and export of goods and technologies. It sells its products directly to food manufacturers, distributors and industrial customers globally and utilizes proprietary processes and technology.
Camlin Fine Chemicals is the world's second largest manufacturer and marketer of food grade antioxidants BHA (butylated hydroxyanisole) and TBHQ (Tertiary Butylhydroquinone).