A tasty treat: helping Treatt's £183m recommended takeover by Döhler

28/05/2026

We're delighted to have helped Treatt PLC on its £183m recommended takeover by Döhler Finance Management B.V., an indirect wholly-owned subsidiary of Döhler Group SE.

Treatt is a UK-headquartered global, independent manufacturer and supplier of a diverse and sustainable portfolio of natural extracts and ingredients for the flavour, fragrance, and multinational consumer product industries, particularly in the beverage sector, while the Döhler Group is a global producer, marketer and provider of technology-driven natural ingredients, ingredient systems and integrated solutions for the global food, beverage and life science and nutrition industry, headquartered in Germany.

Prior to launching the buyout, Döhler had already accumulated a significant minority stake in Treatt, having intervened to help block a rival takeover bid from Natara Global late last year. Both companies operate in highly complementary areas within the beverage, flavour, and life sciences sectors. The deal provides Döhler with an expanded production footprint (particularly in the US) and accelerates Treatt's ability to innovate using Döhler's vast ingredient expertise.

The deal is scheduled to formally close in Q3 2026, subject to necessary antitrust and competition clearances in Austria, Ireland, the UK, and the US.

Our thanks to the company and our wonderful clients at Ashurst, Bank of America, Peel Hunt, and Investec.

If you'd like to find out how we can help ensure the success of your most critical corporate actions, chat with us today: hello@blackandcallow.com

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