Sensient Technologies (NYSE: SXT), has announced that it has reached a definitive agreement to acquire the natural color business of GlobeNatural, a leading natural food and ingredient company based in Lima, Peru, owned by the Michell Group. The transaction is expected to close in the first quarter of 2018. The new entity will operate as Sensient Natural Colors Peru S.A.C.

GlobeNatural brings more than 25 years of experience in the sourcing, manufacturing, and exporting of natural food ingredients. The natural colors are used in a wide range of food and beverage applications in every region of the world.

“This acquisition is an important component of our ‘seed to shelf’ initiative in food colors. Eighty percent of food products launched globally use natural colors and coloring foodstuffs and we anticipate that this market will continue to grow. We will continue to innovate and expand our natural color supply chain portfolio,” commented Paul Manning, chairman and chief executive officer of Sensient Technologies.