PARIS: French food specialist Naturex hopes to clinch one or two acquisitions this year as it seeks to strengthen growth and bolster its cosmetic business.
The company, which supplies natural extracts and ingredients used for colouring and flavouring in the food processing industry, will post a double-digit first quarter sales growth on Monday, its chief executive told Reuters.
"Sales will easily match our forecasts and make us optimistic for the full year," Jacques Dikansky said in an interview on Friday.
Naturex said in March it was aiming for double-digit sales growth this year and an operating margin of 12 to 13 percent.
Asked about external growth prospects, Dikansky said talks with a handful of potential takeover candidates were going well.
Some of those potential acquisitions could expand Naturex's "personal care," or cosmetics business, he said.
"I hope we will make an acquisition in personal care," Dikansky said, adding he was also interested at buying a company in Asia, South America or Eastern Europe while keeping an eye on possible targets in Europe or the United States.
Dikansky said he wanted personal care products which include natural extracts sold to cosmetics giants for use in moisturising creams and shampoos to represent around 10 percent of sales between 2013 and 2015 compared with 1.2 percent in 2010.
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