Technical / White Paper
ROHA GROUP acquires SARAF FOODS, a freeze drying leader
By this ROHA further expands its technology and product portfolio of dehydrated vegetables, fruits and herbs in addition to existing Newfoods plant in Italy.
Roha Dyechem, one of the largest players in the food color and ingredients industry, announced it has fully acquired Saraf Foods Limited, a Vadodara-based freeze-drying specialist food processing company with a significant presence in global markets - US, Europe, and Latin America. Roha Dyechem is an Indian multinational and one of the largest food color and ingredients manufacturer globally. In the past 7 years, this is the 7th acquisition of the 50 year old established Roha Group. Headquartered in Mumbai, India with a presence in 22 countries catering to the needs of Multinational FMCG, Pharma, Food & Beverages and Industrial Color industries, Roha Dyechem is one of the formidable Specialty Chemicals Multinational. Roha Dyechem’s primary focus is driving innovation; co-partnering, timely delivery and customer satisfaction which have helped build trust in their customers. With this acquisition Roha adds advanced technology like Freeze-Drying, Air Drying, and Individual Quick Freezing (IQF) of fruits, vegetables, spices and herbs in addition to the existing Modified Vacuum Drying (MVD) technology it had in Newfoods, Italy. Roha Dyechem's 100% acquisition of Saraf Foods marks the entry of new leadership, thereby infusing a new thought process and outlook into the company; and will allow the company to offer its customers and market partners a complimentary portfolio to its existing natural food color solutions for dietary supplements. Saraf Foods existing investors such as Singapore-based Private Equity fund DSG Consumer Partners, Danish Agri-business Fund IFU, and UK-based Pedoria Group will also be exiting the company in favour of Roha Dyechem along with Mr. Saraf and family. "With its exclusive focus on freeze drying for nearly three decades, Saraf Foods is a strategic acquisition for us and will help us further expand our product portfolio of dehydrated vegetables and fruits, which includes MVD and Air Dried technology with manufacturing in New Foods, Italy. With this acquisition, now we have production in India, enabling us to expand our customer reach," said Mahesh Tibrewala, Managing Director of ROHA Group. "In the past 50 years, ROHA Group has successfully transitioned from manufacturers of synthetic food colors to natural and clean label food colors, industrial colors and dehydrated ingredients. We both believe in creating value for our customers, resources and society. Ethical business practices have always helped us remain in the top position. A well-planned acquisition leads to a win-win for both companies. We welcome team Saraf Foods and look forward to working together to serve our customers by driving innovation for them," said Brijesh Tibrewala, Managing Director, ROHA Group. Based out of Gujarat, Saraf Foods with a global presence in around 15 countries, has two manufacturing facilities of 40000 sq. mtrs. jointly, and employs more than 500 people. “In 1993 when we forayed into freeze drying, we were venturing into unchartered territories. Over the last three decades we have created a successful business and now we are happy to pass the baton to Roha who I am sure will take this business to newer heights and realize greater potential. This acquisition will begin a new chapter of growth for the organization” said Mr. Suresh Saraf. Mr. Saumil Shah and MGB Advisors acted as an advisors to the transaction. JSA and Parinam Law acted as legal advisors to sellers and purchaser, respectively. Further ZADN & Associates has done the financial and tax due diligence.