UK private investment firm Synova Capital has bought up global food data company Mintec in a transaction worth a reported £30m to mark its second deal this week.
Yesterday AltAssets reported that the firm had acquired travel insurance provider AllClear Holdings.
It carries on its busy dealmaking period with the buyout of Mintec, a cloud-based platform that aggregates more than 10,000 data series on raw commodity prices.
The company provides thee data and an analytics tool set to food retailers and manufacturers on a subscription basis, providing them with reports, analysis and interpretations of the food ingredients market.
It serves more than 400 customers, including 18 of the world’s top 20 retailers, such as Tesco, Unilever and Mars.
Synova makes the investment as the food inflation and changing global supply starts to take hold, claims managing partner Philip Shapiro.
He added, “Mintec’s rich database and reputation as a ubiquitous, independent and accurate data provider means it is well placed to continue developing and delivering analytics tools which generate measurable returns to the world’s largest food businesses.”
The acquisition marks the firm’s 18th portfolio business, alongside SaaS platform Mandata and high net worth insurance broker Stackhouse Poland.
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