Sensient Technologies Corporation has entered into a definitive agreement to sell 100% of its shares and certain other assets related to the production of inkjet inks by subsidiary Sensient Imaging Technologies, to Sun Chemical and its parent company, DIC Corporation.
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| Sensient Inks are distributed in Australia by Sign & Print Warehouse |
Sensient's core business is in colours, flavourings, fragrances and additives for the food, beverage, pharmaceitical and cosmetic industries and these are the main contributors to its approximately USD$1.4 billion in sales. The inkjet ink business, was a natural segment for Sensient to be involved in and includes edible inks for decorating food; reached around USD$65 million in sales but was always a minor part of the Millwaukee, Wisconsin-headquartered speciality chemical corporation's sales.
Sun Chemical, together with DIC on the other hand, has global revenues of around USD$6.8 billion, of which USD$3.5 billion is derived from printing inks and colorants. Aquiring Sensient Imaging Technology appears to make perfect sense for both the seller and the buyer. Sensient inkjet inks are distributed in Australia by Ramair Packaging's Sign & Print Wholesale division.
As a supplier of digital inks, Sensient’s experience in water-based solutions has resulted in innovations for a number of industrial markets and the ability to align these developments with Sun will further strengthen this proposition. “As announced previously, the sale of the inkjet ink business will strengthen our focus on our core businesses,” said Paul Manning, Sensient’s chairman, president and CEO.
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| Sensient CEO, Paul Manning |
He continues: “We are pleased that we can transition the business to a buyer that is committed to the industry, and we will work to ensure a seamless transition.” “We’re excited for the opportunities this acquisition presents not only for Sun Chemical but the future of digital inks,” said Mehran Yazdani, president of Sun Chemical Advanced Materials. “Sensient Imaging Technologies’ portfolio and expertise in the industry, combined with our extensive background in industrial inkjet ink solutions, will enhance our combined customer support. Our customers rely on digital print’s agile supply chain and production flexibility, so they will value this acquisition because it will drive future innovation and expansion.”
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| Dainippon Ink & Chemical's SunChemical is the new owner of Sensient Inkjet |
