Grasse: Aromatech creates a joint venture in China with Apple Flavor & Fragrance
The joint venture, called Shanghai Apple Aromatech Flavors Technology Co., Ltd., is evidence of Aromatech's strategy to strengthen its presence in Asia
Aromatech, the head office of which is based in Grasse, seals a major partnership in the food flavour industry in China with the creation of a joint venture with Apple Flavor & Fragrance Co., Ltd.
Founded in 1987, the Aromatech group is one of the leading French companies in the food flavour industry with a strong international presence (Algeria, Tunisia, Turkey, United States, Thailand and China), representing over half the group's sales.
In the space of twenty years, Apple Flavor & Fragrance has become one of the ten most important food flavour manufacturers in China (present in eight Chinese cities).
The creation of this joint venture, called Shanghai Apple Aromatech Flavors Technology Co., Ltd., is evidence of Aromatech's strategy to strengthen its presence in Asia and is an example of a successful exchange between a French manufacturer concerned with entering the Chinese market and a Chinese partner wanting to be associated with a strong, quality research and development service. The joint venture should allow both shareholders to combine their skills, expertise and brands, in order to market flavours developed by the Shanghai-based joint venture in China.
The Shanghai branch of the legal firm Aklea advised Aromatech on all legal aspects for the creation of the joint venture, including contractual negotiations, cultural particularities and statutory formalities.