Milwaukee-based colors, flavors and fragrances manufacturer Sensient Technologies Corp. has reached an agreement to acquire the assets of U.K. specialty ink manufacturer Xennia Technology Ltd. The transaction is expected to close in the third quarter of 2015.
“We are very excited about the expertise and opportunities that Xennia will provide,” said Paul Manning, president and chief executive officer of Sensient. “Xennia’s strong technical capabilities will broaden our product offering and accelerate our access to important customers and markets for our inks business.”
Sensient chief financial officer Steve Rolfs said Sensient will likely keep some of Xennia’s brand names, but a name change for Xennia has not yet been determined.
Sensient has 4,000 employees globally, approximately 60 of which are in Milwaukee. Xennia employs about 40 in the U.K., where Rolfs said it will continue to operate.
Xennia’s product lines consist of reactive, acid and sublimation inks for printing on a range of textiles and other substrates. The business is currently owned by Royal Ten Cate NV, a multi-national producer of functional materials headquartered in the Netherlands. Xennia reported revenue of approximately $11 million in 2014.