Sensient Technologies acquires NPC backed Mazza Innovation

Sensient Technologies (NYSE: SXT) has acquired Mazza Innovation Ltd., a global leader in botanical extraction technology, for an undisclosed amount.

Delta, BC based Mazza Innovation specializes in extracting solvent-free bioactives from botanical sources for use as ingredients in functional foods, dietary supplements, natural food colourings/flavourings, and personal care and cosmetic products.

Sensient Technologies said the addition of Mazza Innovation is a major step in the evolution of its ‘seed to shelf’ strategy to innovate across the value chain for natural and organic ingredients. Mazza’s leading edge plant extraction technology better enables Sensient to meet customer demand for pure ingredients in their food and beverage, nutraceutical, and personal care products.

In September 2017, Mazza raised $3 million in new funding from several institutional and individual investors, including Natural Products Canada (NPC).

photo credit: Mazza Innovation

News Release

Mazza Innovation is acquired by Sensient Technologies

Employment at the expanding Delta BC facility to be unaffected and expansion plans will remain in place as Mazza receives a continuing flow of new business opportunities for its leading-edge, environmentally friendly extraction technologies

Vancouver, Canada (July 10, 2018) — Mazza Innovation Ltd. is pleased to announce that it has been acquired by Sensient Technologies Corporation, a global manufacturer and marketer of colours, flavours and fragrances. The acquisition is effective immediately and terms of the acquisition have not been disclosed. The Mazza plant extraction facility at the Delta, BC headquarters location will remain in place.

“We’re very pleased to join Sensient Technologies, a world leader in the production of colours, flavours and fragrances,” said Mazza Innovation CEO Benjamin Lightburn. “The acquisition by Sensient provides Mazza with a large new customer base, and a wide variety of new opportunities for our environmentally friendly extraction technology. It also provides a strong financial base for our rapid growth plans while also enabling our founders to benefit from their many years spent working to develop and commercialize this world-leading technology.”

Paul Manning, Chairman, President and CEO of Sensient Technologies, comments: “This acquisition is extremely significant for Sensient and our customers. The combination of our colour and flavour expertise and Mazza’s revolutionary technology will allow us to conduct extraction from natural plant sources using environmentally friendly extraction methods — including water only extractions — instead of traditional chemical solvents. This technology will enable us to work with leading food, cosmetics, and nutraceutical brands to create cost effective, clean label products that deliver on consumer expectations for taste, colour, and functionality.”

Support from a number of Canadian government programs and non-profit innovation associations was fundamental to proving out Mazza’s technology and the company’s subsequent rapid growth.

“We also want to thank the many government and innovation support programs that enabled us to develop and accelerate our commercialization over the last few years,” adds Lightburn. “Programs and groups such as the Governments of Canada and British Columbia, Agriculture Canada, NRC-IRAP, WD WINN and Natural Products Canada were invaluable to our company and other small emerging firms. We’re also happy to report that all of these were either repaid in full or at a profit. They are valuable programs.”

Speaking as one of many of these organizations, Shelley King, CEO of Natural Products Canada, said: “Mazza is a great example of Canadian innovation — turning a tremendous technology into a much-needed business that has garnered international investment. We are very proud to have played a part in their success.”

About the PhytoClean™ Method
The PhytoClean™ Method is a water-based extraction process that concentrates bioactives by pressurizing water at moderate temperatures, greatly increasing the water’s ability to solubilize bioactive compounds from botanical sources. In effect, this extraction process provides as good as or better yields and purities than industrial chemical solvents. This environmentally friendly, clean process can be applied to extract a wide range of compounds for use in nutraceuticals, cosmetics, flavourings, colourings, pharmaceuticals, functional foods and beverages.

About Sensient Technologies
Sensient Technologies Corporation is a leading global manufacturer and marketer of colours, flavours and fragrances. Sensient employs advanced technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, inkjet and specialty inks and colours, and other specialty and fine chemicals. The company’s customers include major international manufacturers representing most of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin. Visit www.sensient.com.

About Mazza Innovation
Mazza Innovation specializes in extracting solvent-free bioactives from botanical sources for use as ingredients in functional foods, dietary supplements, natural food colourings/flavourings, and personal care and cosmetic products. Mazza’s environmentally friendly PhytoClean™ pressurized-water extraction process produces ingredients that are free of any carrier compounds or residual solvents. The company is fully certified as GMP and organic, and currently offers more than 40 extract ingredients, including blueberry, green tea, cranberry (all three of which won product innovation awards at Engredea 2015), flaxseed and algae. Based in Vancouver, Canada, Mazza’s portfolio of award-winning ingredients gives product manufacturers the opportunity to meet the growing consumer demand for high-quality clean-label products that are sourced naturally. Visit https://www.mazzainnovation.com/.

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For more media information, please contact:

Mazza Innovation
Steve Campbell
Campbell & Company Public Relations
Vancouver, BC, Canada
(604) 888-5267
tech@ccom-pr.com

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal and CanadaMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, the most sophisticated and advanced all private capital and public market financing database.