Ardian sells Frulact to PE firm

Ardian, a private equity firm, is selling Frulact, a global natural ingredient solutions platform for the food and beverage industries, to another private equity company, Nexture.

Headquartered in Porto, Portugal, Frulact specializes in liquid flavours and plant-based specialty ingredients for dairy, ice cream, desserts, and beverages. It employs over 850 people, operates 11 facilities across Canada, the U.S., Europe, and Africa. Frulact was acquired by Ardian in May 2020. Under Ardian’s ownership, Frulact completed two acquisitions in Europe and North America.

“We are deeply grateful to Ardian for their unwavering support and commitment to Frulact’s growth over the past years. As we enter this new chapter, we are thrilled to partner with Nexture to continue building on our strong foundation and accelerating our growth strategy in the years ahead,” said Dinorah Mandic, CEO, Frulact.