Ardian, a private equity firm, has agreed to sell Frulact, a global natural ingredient solutions platform for the Food and Beverage industries, to Nexture. Headquartered in Porto (Portugal), Frulact is a natural ingredient solutions platform that manufactures a comprehensive and complementary portfolio of products including Food System solutions, specialized liquid flavors and plant-based specialty ingredients for dairy, ice cream, desserts, beverages, among other applications. Frulact employs over 850 people, operates 11 facilities across Europe (Portugal, France, Switzerland and Germany), Africa (Morocco and South Africa) and North America (Canada and the U.S.), selling its products in over 50 countries and generating revenues of approximately €265 million for the 12-month period ended September 30, 2025.

Frulact was acquired by Ardian in May 2020. Under Ardian’s ownership, the Group has expanded significantly through a combination of organic and inorganic growth, becoming the top 3 player in the Food System solutions market with a transatlantic presence. During this period, Frulact has completed two acquisitions in Europe and North America, and expanded its manufacturing footprint in both regions, including the inauguration of a new state-of-the-art facility in the US. This enabled the Company to multiply by approximately 2.5x its revenues.