Ingredients supplier Treatt has entered the organic and cosmetics markets with the acquisition of a 50% share in Earthoil Plantations Limited and Earthoil Kenya Proprietary EPZ Limited for £2.55m. Earthoil manufactures and supplies organically certified and ethically traded essential and vegetable oils.
Earthoil's existing management team - Wayne Barratt, director of Global Operations, Campbell Walter, sales and marketing director, and Tony Silvester, finance director - will continue to manage the company and, on completion, three representatives of Treatt will join them on the Earthoil Board.
The deal comprises £1.2317m in cash, £0.675m in Consideration Loan Notes and £0.6375m worth of Treatt Ordinary Shares.