On November 4, 2024, Robertet announced the acquisition of Phasex, a supercritical CO2 extraction company for natural products in particular, based in North Andover, Massachusetts, USA.
Phasex is said to be a pioneer in CO2 extraction and focuses mainly on three market segments including natural products, biopharmaceuticals and polymers. The company was founded in 1981 by Val Krukonis, one of the early adopters and advocates for the use of supercritical CO2 extraction for a broad range of applications in the United States. Phasex has recorded annual sales of between €5 million and €12 million over the past five years and, with Robertet's support, it aims to double its sales in the coming years.
Supercritical CO2 Extraction
Supercritical CO2 extraction is described as an innovative and environmentally friendly method for extracting high-quality aromatic or functional components from solid biomass or liquid raw material by using supercritical carbon dioxide. Supercritical CO2 is said to be more environmentally friendly than available alternatives, such as hexane, butane and ethanol.
The supercritical process involves using pressure and temperature to reach the supercritical phase, where the CO2 is between a liquid and a gas. In this phase, the CO2 offers unique dissolving powers, which makes it possible to remove certain components from the substrate material.
Acquisition Details
- Designed to strengthen Robertet's production capacities and extend the CO2 extraction offering to Robertet's customers in North America, through the vertical integration of a supplier that it has been working with closely since 2018.
- Develop new ranges of natural ingredients for both flavors and fragrances. In particular, Robertet will be developing a new product range leveraging North American and South American biomass.
- Reduce time to market, made possible by synergies between Phasex teams and Robertet's R&D teams in Grasse, France.
Jérôme Bruhat, chief executive officer of the Robertet Group, said, "The acquisition of Phasex represents a major step forward for us. Robertet is now the first company in the Fragrances & Flavors sector to have invested in CO2 extraction in North America, with a clear focus on high-value-added extracts for both the Aroma and Nutricosmetics industries. By integrating Phasex's expertise, we are further consolidating our position as a leader in natural ingredients as we develop more sustainable, efficient solutions for our customers. Through this transaction, we have strengthened our industrial base in North America, which is one of the key drivers toward our goal of achieving €1 billion in total sales by 2030."
John C. Quinn, chief executive officer of Phasex, commented, "Joining Robertet is a great opportunity for Phasex to pursue its development and strengthen its leading position in CO2 extraction. Phasex's employees are excited about the prospect of working with Robertet's team in R&D and processing the unique new products that Robertet is planning to develop following this acquisition. Thanks to the synergies between our teams, we will be able to meet the growing demands of our customers, while ramping up innovation in the natural products sectors. We are proud to be joining a family-owned group that shares our commitment to environmentally friendly technology."
