Rettenmaier - Silvateam Joining forces
The agreement provides for the entry of the German Rettenmaier group into the capital of the Silvateam Food Ingredients.
On 30 September JRS Silvateam Ingredients Srl., a joint venture between the Italian group Silvateam Spa and the German JRS Group was closed in order to join forces in the production and sales of pectin and texturizing systems as well as distribution of tara gum. The joint venture will invest significantly in development and production of novel vegetable based texturizing solutions with high consumer acceptance to respond to the increasing demand for label friendly food ingredients.
Silvateam Food Ingredients is a company producing pectin and other hydrocolloid solutions for the food industry. It has facilities in Rende (Cosenza) and sales and application lab in Bergamo. It exports in over 40 countries around the world to top producers in the fruit preparations and dairy industries.
JRS Group is a family owned company with global activities in the area of functional additives for food, pet food, pharma, personal care and various technical application fields. JRS Group manufactures and markets products made from vegetable-based raw materials with more than 3500 employees worldwide.
“The joint venture will allow our group to accelerate the investment plan in the food ingredients sector. We have developed a growing worldwide market for our products and we are about to start investing in a significant new product line. The JV will leverage both partners’ technical competences, R&D know how and commercial network synergies with significant positive impacts on market penetration" comments the President of the Advisory board of Silvateam Food Ingredients, Antonio Battaglia.
“With this joint venture, the Battaglia and Rettenmaier entrepreneurial families will start an important journey together and it is the confirmation for our group that the choice made over ten years ago to invest in food ingredients was a winner”, continues Alessandro Battaglia, President of Silvateam Spa.
“As a leader in insoluble dietary fiber and functional food hydrocolloids the JRS Group is pleased to strengthen its portfolio with pectin, tara gum and functional texturizing systems. The portfolio of JRS Silvateam Ingredients Srl. in particular complements JRS’s alginate and cellulose product lines in a synergistic way and enables to offer speciality solutions by extended functional texturizing systems. Together with Silvateam we enhance our leadership position for vegetable based and label friendly food ingredients”, says Josef Otto Rettenmaier, President & CEO of the JRS Group.