Ingredients maker FDL bought by US firm

Highlander Partners has acquired FDL for an undisclosed sum. FDL lists beverage syrups, flavourings and colours, honey, juices and juice blends among the products it manufacturers.

The London-based firm also offers amino acids, aroma chemicals, energy and fortification solutions, preservatives and acidulants, seeds and grains, sweeteners, and sweetener systems.

FDL will continue to operate under its existing operating structure with its current management team, led by Mardi, a former head of global operations for Danisco and a food industry veteran of 25 years.

Diversifying the business​

Since taking over the role a decade ago, Mardi – who will also serve as co-chairman on FDL’s board – has been widely credited for diversifying the business.

He said: “We are excited to be working with Highlander Partners, which has a strong track-record of building long-term value for its portfolio companies, with deep, relevant experience in the food ingredient space.​

“With Highlander’s financial, strategic and operational support, we are excited to expand upon our leading market position with a partner who shares in our strategic vision.”​

Highlander President Mike Nicolais will join FDL’s board and serve as co-chairman.

Focus on innovation​

­­­Nicolais said: “FDL’s focus on innovation, service and customised solutions have formed a loyal and growing customer base.​

“We are excited to partner with such an experienced and proven management team to continue growing and developing innovative solutions for the company’s customer.​

“In addition, similar to our other portfolio companies, we intend to supplement organic growth with strategic acquisitions that build on and expand FDL’s existing business and product offerings.”​

Founded in 1884, FDL also specialises in trading specialised commodities, such as castor oil, menthol and mint oils.

HSBC and RBS arranged the senior credit facilities in support of the takeover.