Givaudan buys U.S. flavour and fragrance maker Ungerer


FILE PHOTO: The logo Givaudan, the world’s biggest fragrance and flavours maker is seen at a plant in Kemptthal, Switzerland July 18, 2016. REUTERS/Arnd Wiegmann

ZURICH (Reuters) – Swiss flavour and fragrance maker Givaudan (GIVN.S) said it was buying U.S. Ungerer & Company for an undisclosed sum as part of its long-term growth strategy.

Givaudan said Ungerer, which employs 650 people, would have added roughly $250 million in extra sales on the basis of last year’s results. Givaudan posted sales of 5.53 billion Swiss francs ($5.55 billion) in 2018.

The Geneva-based company did not disclose the terms of the deal, which it said it would fund through issuing new debt. The transaction is expected to close during the first quarter of 2020.

Ungerer, based in New Jersey, was founded more than 125 years ago and has a presence in more than 60 countries. It has eight factories and six R&D centres, Givaudan said.

The deal is Givaudan’s sixth acquisition this year as it targets average sales growth of 4-5%.

“The acquisition of Ungerer fits very well with our long-term strategy for our core business in flavours and fragrances,” Givaudan CEO Gilles Andrier said in a statement.

“They have an excellent reputation in the market, thanks to the quality of their speciality ingredients as well as their strong position in the fast-growing local and regional customer segment.”

Reporting by John Revill; Editing by Helen Popper

Products You May Like

Articles You May Like

Top 15 des trucs qu’il fera forcément subir à son petit frère/soeur, ça fait partie du plaisir
[TOPITRUC] Un miroir en forme de chat où tu peux poser tes bijoux
Car bomb explosion kills seven in Afghan capital
Nifty, Sensex flat, retail inflation data eyed
Top 10 des trucs à faire si tu veux apprendre le japonais, arigato Topito

Leave a Reply

Your email address will not be published. Required fields are marked *