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The deal

Investing in a leading global producer of critical ingredients for the flavour and fragrance industry


Deal size, August 2023

Fund IV

Current investment

The teams

Management Team

Chair: Paul Forman

CEO: Yoram Knoop

The story

Natara is a leading producer of natural and synthetic base aroma products. These products are key inputs to the global Flavour and Fragrance industry: Natara’s customers combine these base aroma products with other ingredients to create Flavour and Fragrance solutions.

The company was formed by a corporate carve-out of the flavor specialty ingredients division of International Flavors and Fragrances, Inc. Exponent partnered with the incumbent management team and introduced Exponent Chair Paul Forman and buy-in CEO Yoram Knoop.

The transaction includes four dedicated manufacturing and distribution facilities in the UK, US and China, as well as additional distribution centres in Mexico, Brazil and Hong Kong. We plan to make a significant capital investment at the UK facilities in Hartlepool and Teesside, building on Natara’s UK manufacturing heritage and consolidating its position as a leading player in the UK Flavour and Fragrance ingredients supply chain.

We were attracted to Natara due to its resilient and attractive end markets, in which it benefits from growing global demand and long-term consumer trends such as demand for natural flavours and an increased focus on innovation, and its highly entrenched relationships with a diversified, blue-chip customer base. We are excited at the broad range of market independent growth opportunities available to the business under independent ownership.