The New Jersey-headquartered company serves the personal care, candle and home care industries with its fragrance ingredients, and has said that selling the flavour side of the business will allow it to concentrate on this sector.
Formed in collaboration with private equity firm Nautic Partners, Agilex is the result of an integration of a number of flavor and fragrance companies.
The sale of the flavor arm follows significant growth in the division, according to Agilex CEO Tom Lamb.
“Key has grown very quickly over the past several years and has benefited from the positive trends in the health and wellness industry. Kerry is inheriting an excellent business with attractive growth prospects,” he said.
Focus on fragrance
Following the sale of the unit, for which financial details have not been disclosed, Agilex will be able to concentrate on the fragrance side of the business.
“We are pleased with the transaction and now look forward to focusing on the continued success of our Fragrance business,” Lamb said.
Along with providing fragrances for the personal care industry, and offering private label services, Agilex also has a number of proprietary technologies to clients.
Non-browning vanilla fragrance supplements, as well as layered product technology to enhance product aesthetics of multi-layer formulations are two of such technologies.