Swiss company Firmenich is set to expand its presence in the Indian market with the acquisition of a significant stake in seasonings and flavours manufacturer VKL Seasoning from private equity company True North.

Firmenich intends to further enhance its capabilities and customer reach in India, which is one of the key markets for the company.

The company also plans to expand its raw material palette for clean label ingredients.

Firmenich CEO Gilbert Ghostine said: “In a world of increasingly label-conscious consumers, VKL’s unique blends of spices, extracts and other natural ingredients will enrich our portfolio of authentic taste profiles to delight Indian consumers.

“VKL’s impressive customer base coupled with in-depth knowledge of the local palate has led to significant growth in the industry.”

“We are excited to partner with VKL, a leader in the savoury and food service space, who bring a demonstrated track record of innovation with both local and international players.”

Upon completion of the deal, VKL Seasoning will retain its brand identity and operate as a stand-alone business entity within the company.

True North partner Haresh Chawla said: “VKL Seasonings and True North share the same values, focused on professional management practices, high-quality talent and innovative creative systems.

“VKL’s impressive customer base coupled with in-depth knowledge of the local palate has led to significant growth in the industry.”

Financial details of the deal have not been disclosed.

Last November, Firmenich acquired US-based sweet and bitter solutions innovator Senomyx.

The acquisition was executed by Firmenich’s wholly-owned subsidiary Sentry Merger Sub, which purchased all outstanding shares of common Senomyx stock at a price of $1.50 per share in an all-cash transaction.