Californian group Spectrum Organic Products has sold its organic ingredients division to a company called Acirca for an undisclosed sum. The division includes Spectrum's industrial sales of organic fruits, vegetables, concentrates, purees and certain private label products but does not include the oils, vinegars and nutritional products operations which will remain part of the Spectrum group.
Commenting on the sale, Spectrum CEO and chairman Jethren P. Phillips, said: "After the sale of our tomato-based product lines to Acirca in June 2001, it became increasingly clear that the original synergies associated with the ownership of the organic ingredients division no longer existed for Spectrum. The sale of the business has significantly improved our working capital and will allow us to redeploy the funds into our core healthy fats and nutritional supplements business and focus on what we do best."
Spectrum Organic Products manufactures and markets natural and organic culinary oils, vinegars, condiments and healthy fat butter substitutes under the Spectrum Naturals brand and essential fatty acid nutritional supplements under the Spectrum Essentials brand. The company also produces and sells a wide range of industrial oils, vinegars and nutritional ingredients to other manufacturers.