AGRANA to Acquire Austrian Flavour Producer Esarom for €150 Million

AGRANA Beteiligungs-AG has resolved to acquire 100% of the shares in Austrian flavour producer esarom gmbh and esarom holding gmbh, strengthening its position in the global food and beverage solutions market. Based in Oberrohrbach, Austria, esarom develops and manufactures flavours, bases, powders, emulsions, functional blends and stabilisers for the food and beverage sector.

The company has significant expertise in formulation, established long-term customer relationships and a strong export focus. esarom operates two production sites in Austria, employs nearly 400 people and generated approximately €112 million in revenue during its 2025 financial year. Through the acquisition, AGRANA aims to advance its strategic growth objectives in its Food & Beverage Solutions business while expanding its capabilities in flavours and beverage solutions.

The transaction has an agreed enterprise value of approximately €150 million, corresponding to an EBITDA multiple of 9.0x. The deal will be financed through AGRANA’s existing liquidity and available credit lines, with conventional price adjustment mechanisms and success-based purchase price components intended to mitigate transaction risks. The share purchase agreement is expected to be signed shortly, subject to the required regulatory and antitrust approvals. AGRANA targets completion of the acquisition at the beginning of its 2027/28 financial year.

The transaction represents a strategic expansion of AGRANA’s food ingredients and flavour capabilities, adding esarom’s formulation expertise, production footprint and established customer base to its existing portfolio.

Source: AGRANA