Universal Foods Corporation (Milwaukee) announced that it has acquired Pointing Holdings Ltd., a manufacturer of food colors, flavors and specialty chemicals headquartered in the United Kingdom. Annual sales are approximately $43 million. Terms of the cash transaction were not disclosed.
Pointing is one of the top five suppliers of food colors worldwide. The company manufactures both synthetic and natural food colors as well as flavors and specialty chemicals for cosmetics and household products. About 60% of the company's sales are within Europe and the remaining 40% in North America, South America and Australia.
"Pointing enhances our global presence, complementing our color operations in Europe and North America as well as providing better access to new markets in developing nations," said Universal's chairman, president and CEO, Kenneth Manning. "The flavor business strengthens our position in the European market and we gain additional specialty chemical expertise."