Givaudan makes bid for Naturex

FLAVOURS and fragrances company Givaudan has entered an agreement to acquire 40.6% of Naturex shares at a price of EUR 135/share. The Board of Directors and Management of Naturex are supportive of the transaction. The agreement is subject to regulatory approvals.

Naturex specialises in plant extraction and the development of natural ingredients and solutions for the food, health and cosmetics, with reported sales of EUR 405 million in 2017. It currently operates from 16 production sites around the world and employs 1,700 people. Acquiring the company would enable Givaudan develop its natural flavour solutions.

CEO Gilles Andrier said: “Givaudan is the global leader in the space of natural flavours and Naturex further complements our capabilities with its strong portfolio of plant extracts and natural ingredients across the food and beverage, nutrition and health and personal care sectors. We look forward to working with the management and shareholders of Naturex in the coming months to secure their support for the acquisition.”

Louie D’Amico, President Designate of Givaudan’s Flavour Division said: “Consumers around the world are increasingly demanding more natural and organic products from food and beverage companies. Naturex will be extremely complimentary to the acquisitions we have announced in this space over the last few years, namely Spicetec, Activ International, Vika and Centroflora Nutra.”

Givaudan in Asia

Givaudan develops tastes and scents together with food, beverage, consumer product and fragrance partners. In Asia, it opened the Givaudan Business Solutions (GBS) delivery centre in Malaysia in 2017. A year earlier, it expanded its Flavour Innovation Centre (FIC) in Singapore to include a culinary space for concept development, as well as new or expanded savoury, bakery, confectionery, beverage and dairy facilities to serve all market sectors.  It has also recently announced a patchouli oil sourcing project that would assist smallholder farmers in Indonesia. While outside the ASEAN, it has also laboratories and offices in Pakistan.