Based in Granollers, Spain, Textron is a manufacturer, processor and specialty formulator of natural oils for the personal care, food and chemical industries focused on supplying high quality, natural oils out of a manufacturing facility that sources oils and seeds from all over the world. Textron’s product portfolio includes cosmetic oils, formulations of EVOILS, food oils, bismuth derivatives, cosmetic ingredients and preservatives.
“Textron’s world-class production facility and focus on vegetable oils is a natural fit with Vantage’s current portfolio. It will create a global leader in the increasingly demanding world of traceable and sustainable natural oils for personal care and allow us to better serve the evermore stringent sourcing needs of our combined customer base,” added Serge Rogasik, senior VP of Vantage’s personal care business.
As part of the transaction, Textron will spin-off its Spanish distribution business Plimon, which will remain with the prior ownership group and continue distributing products for Textron.
“The acquisition of Textron supports our commitment to strategically grow and expand the value we bring our customers throughout the world in natural oils. This strategic combination builds upon Vantage’s existing leadership position in jojoba oil and further establishes Vantage and Textron as premier providers of natural oils to broaden and complement our specialty ingredient solutions for evolving trends in personal care and food,” commented Andy Harris, CEO of Vantage.
“This is an exceptional combination of people and natural products, which will provide significant benefits for both companies and most importantly our customers,” said Martin Lascorz, owner and CEO of Textron, who will continue to work with the combined
entities. “With the support and backing of Vantage, Textron is well positioned to meet the growing needs of our customers and continue to bring expanded opportunities to our employees. We are delighted to be a part of the Vantage family.”
Textron is the fourth add-on acquisition that Vantage has completed since H.I.G. acquired the company in October 2017. The transaction is expected to close by June 2019.