Fuerst Day Lawson (FDL), a portfolio company of Highlander Partners, has announced the acquisition of Quest Ingredients from Quest Vitamins.
Quest Ingredients, headquartered in Hereford, is a manufacturer of high-quality proprietary food flavours, animal feed flavours and active botanical extracts with a repeat client base across the food and beverage, pharmaceutical and agricultural sectors.
Operations will continue to be conducted from Quest Ingredients' existing facility in Hereford, and its employees will join the FDL team. The transaction supports FDL's stated strategic objective of expanding in its core markets and customer base in Europe and the United States where there continues to be abundant opportunities for growth.
Eric Beatty, CEO of FDL, said: "We believe the addition of Quest Ingredients is strategic and highly complementary to FDL's existing portfolio of ingredients and formulated solutions. We are excited to offer Quest Ingredients' unique process capabilities to existing FDL customers and expand services to Quest Ingredients' customers with FDL's products and innovation capabilities. We are thrilled to work with the Quest Ingredients team to continue growing the combined business."
We believe growing demand for customised flavourings and health enhancing natural ingredients will continue to be top of mind with our customers, and Quest Ingredients is uniquely positioned to meet these needs.
Chaz Thomas, a Director of Highlander and a board member of FDL, added: "This acquisition strengthens FDL's ability to deliver customised flavour and botanical extracts across both customer bases by expanding our capabilities and innovations expertise. We believe growing demand for customised flavourings and health enhancing natural ingredients will continue to be top of mind with our customers, and Quest Ingredients is uniquely positioned to meet these needs. We will continue to be aggressive in growing our innovative ingredient solutions and deepening our capabilities in our core markets."
Jeff L. Hull, President and CEO of Highlander, said: "This acquisition reconfirms our strategy of executing on attractive add-on acquisitions that enhance and expand FDL's existing applications expertise and product offerings. We are continuing to evaluate M&A opportunities and expect to make additional acquisitions going forward."
Alinea Corporate Finance acted as financial advisor and Higgs served as legal counsel for Quest Vitamins. NatWest provided senior financing to FDL in support of the transaction.
