BACKGROUND

Synthite Industries Ltd (Synthite) is an Indian oleoresin extraction firm, supplying ingredients to the major food,
fragrance and flavour houses. The company is based in Kochi. In 2008, it had 30% of the world's market share,

The company was established in 1972 with 20 employees. It was founded by C.V. Jacob, who started the
company after working in civil construction for two decades. Initially it produced industrial chemicals before
shifting to oleoresins. The oleoresin business was initially based on research by the Central Food Technological
Research Institute in Mysore. However, the technology developed was not yet mature, and it took several years
of additional research and development by Synthite to make the technology viable. It took another four years
before they convinced food producers that they could produce quality products on time.

By 2008, it has grown to 450 crore and 1200 employees, with a 2012 goal of 1,000 crore. The company
achieved this goal, with a total of 2,000 employees. The company only began selling directly to consumers in its
native India in 2014. Some of its major clients include Nestle, Bacardi and Pepsi.
The company is currently run by the founder's son, Viju Jacob. The company produces oleoresin spices,
essential oils, food colors, and sprayed products. It also has products that are organic and fair-trade. The
company also has investments in reality and hospitality.