AGRANA is continuing its strategic expansion in the premium food business. The Vienna-based group intends to acquire 100 percent of the shares in esarom GmbH and esarom holding GmbH. An enterprise value of approximately €150 million has been agreed for the company.

With the acquisition of esarom, AGRANA would significantly expand its business in flavors, beverage solutions, and customized food and beverage applications. The Lower Austrian company brings nearly 400 employees, €112 million in annual revenue, decades of formulation expertise, and a strong international presence.

The acquisition is not yet finalized. The necessary internal resolutions at AGRANA have been obtained, and the signing of the purchase agreement is expected soon. Afterward, the transaction will require approval from the relevant competition authorities.

150 million euros for esarom

According to AGRANA, the agreed enterprise value of approximately €150 million corresponds to an EBITDA multiple of 9.0. This is the so-called enterprise value and not automatically the final purchase price to be paid.

Buyer and seller have agreed on standard market price adjustment mechanisms and performance-based purchase price components. Financing will be provided through the AGRANA Group's existing liquidity and available bank lines.

For AGRANA, the transaction represents a further step in the expansion of its Food & Beverage Solutions business unit. The recent earnings performance also demonstrated the importance of this division to the Group: Food & Beverage Solutions became AGRANA's most important earnings driver , while the sugar business in particular came under pressure.

More than 80 percent exports

Esarom was founded in 1946 and is one of Austria's established specialists for ingredients and flavor components for the food and beverage industry. The company develops and produces, among other things, base materials, flavorings, extracts, powders, emulsions, functional blends, and stabilizers.

A key factor for AGRANA is esarom's international position. According to the company, it has an export quota of over 80 percent. The markets in Central and Eastern Europe, the Middle East, and Central Asia are particularly important.

In fiscal year 2025, esarom achieved a turnover of 112 million euros. Around 400 employees contribute not only production expertise but also formulation know-how, application experience, regional market knowledge, and long-standing customer relationships to the planned merger.

Aromas meet fruit expertise

The portfolios of the two Austrian companies complement each other strategically. AGRANA already has a strong presence in fruit preparations, juice concentrates, beverage bases, and customized food and beverage solutions. esarom complements these areas, particularly with flavorings, extracts, functional blends, and flavor development.

This could lead to a significantly broader range of development opportunities for food manufacturers. New products could be implemented more effectively within a shared development network, encompassing everything from fruit components and flavors to beverage bases and functional blends.

For the bakery and confectionery industry, the transaction is also relevant at the product level: esarom develops ingredients for confectionery and fine baked goods and offers, among other things, flavors, extracts, stabilizers and solutions for texture, functionality and flavor modulation.

Three locations in Lower Austria

The collaboration is also set to become very concrete within Austria. esarom is headquartered in Oberrohrbach, Lower Austria. The company's "House of Taste" and logistics center are located in Rückersdorf-Harmannsdorf.

The esarom sites in Oberrohrbach and Rückersdorf, together with the AGRANA site in Kröllendorf, are to form an integrated three-site network. Production, development, and application expertise will be more closely integrated, and customer support will be better coordinated.

AGRANA expects this to result in shorter development paths, accelerated joint product development, and additional opportunities to implement customized solutions together with customers. Following the completion of the transaction, esarom's team expertise, existing customer relationships, and regional market knowledge will also be integrated into a joint network of competence.

Strategic restructuring at AGRANA

The planned acquisition of esarom is not an isolated event. AGRANA has been increasingly aligning its corporate structure towards higher-value food and beverage solutions for some time. Under the "AGRANA NEXT LEVEL" strategy, the Food & Beverage Solutions and Agricultural Commodities & Specialities business units have been reorganized.

The complete acquisition of Austria Juice also fits into this development. AGRANA decided in May 2025 to acquire the remaining 49.99 percent of RWA; the transaction was completed in October 2025. This fully integrated the business with juice concentrates, beverage bases, and flavorings into the group.

At the same time, the traditional sugar business was scaled back. The economic problems in this segment had recently weighed heavily on AGRANA, while Food & Beverage Solutions had a stabilizing effect. This division also contributed to improved earnings in the first three quarters of 2025/26. Despite the challenging market environment, AGRANA confirmed its annual forecast .

“ONE AGRANA” sets the direction

For AGRANA CEO Stephan Büttner, the esarom deal represents more than just a portfolio expansion. "With esarom, we not only want to expand our portfolio, but also combine complementary competencies into a stronger overall offering," explains Büttner.

The planned acquisition thus also follows the group-wide approach "ONE AGRANA". Existing expertise is to be more strongly consolidated and customers increasingly served from a shared product, development and sales network.

For AGRANA, this means a further shift towards products and services with higher added value. The traditional raw materials business is increasingly being complemented by customer-specific development, application engineering, and specialized food and beverage solutions.

Completion not until 2027/28

Several steps are still necessary before esarom actually becomes part of the AGRANA Group. After the planned signing of the purchase agreement, the transaction must be approved by the relevant competition authorities.

AGRANA currently expects to complete the transaction at the beginning of the 2027/28 financial year.

If the acquisition proceeds as planned, AGRANA will significantly expand its Austrian development and application expertise in aromas, flavors, and beverage solutions. The group currently employs around 8,400 people at 50 production sites worldwide and generates annual group sales of approximately €3.2 billion.

“`