Womble Bond Dickinson (WBD) alongside RSM’s M&A and private equity team have successfully advised on the sale of TasteConnection Limited, a manufacturer of award-winning specialist seasonings, glazes and marinades, to Nactarome Group, funded by Pan-European private equity house Ambienta.
Established in 2002 and based in Gloucestershire, TasteConnection was created to connect specialist seasonings, provenanced ingredients and forthcoming food trends with market leading brands and premium own label products. The highly successful management team will remain as a part of the TasteConnection division and wider group to guide the business through its next stages of growth.
Nactarome Group is a European-based flavours and natural ingredients company. This latest acquisition is Nactarome’s second in the UK market, following the acquisition of Create Flavours last year, which was also advised by WBD and RSM. The addition of TasteConnection to its portfolio will allow Nactarome to expand its UK capabilities whilst benefitting from an array of synergies between its two UK operations.
The Bristol-based WBD team was led by partner Tom Fitzpatrick and managing associate Sammy Hill.
Tom Fitzpatrick, corporate partner at WBD, commented:
“We are seeing a lot of "bolt-on" acquisitions where private equity backed businesses are growing through M&A deals as well as organically. It has been great to sell another business to Nactarome, who clearly have an appetite, and we are seeing more of Ambienta in the UK. I wish the TasteConnection team all the best with their continued growth."
Andrew Sainsbury, Co-founder of TasteConnection, said:
"We see this acquisition as a great fit for both of our organisations, and believe TasteConnection will strongly complement the wider group. We are very grateful to the teams at RSM and Womble Bond Dickinson for their hard work on our behalf to secure a good deal for us as the existing shareholders, and for the future of the business. Their advice was invaluable, steering us through the process and allowing us to achieve a fantastic result despite the events that have unfolded over the last 12 months.”
Ian Wherry, corporate finance partner for RSM, said:
"We are delighted to have helped the TasteConnection shareholders to find a strategic partner for the business. This acquisition allows Nactarome and the Aromata Group to expand its platform further with another high-quality UK based investment. It also provides the managing shareholders the opportunity to become part of an international group alongside Create Flavours with whom they have had a long-standing relationship. I wish all parties the best for the future and I would like to thank Ambienta for their professionalism and reliability throughout the process."