Givaudan Completes Acquisition of Spicetec Flavors & Seasonings from ConAgra Foods
26 Jul 2016 --- Following the announcement on 23 May 2016 and the approval process required by regulatory authorities in the US, Givaudan have announced that it has closed the acquisition of Spicetec Flavors & Seasonings from ConAgra Foods.
Spicetec offers a range of flavours, spices and savoury seasoning solutions to customers in North America and operates from locations in Omaha, Nebraska, Carol Stream, Illinois and Cranbury, New Jersey.
Gilles Andrier, CEO of Givaudan said: “This acquisition is a step forward in a key pillar of our 2020 roadmap, integrated solutions. The Spicetec product portfolio and capabilities are very complimentary to Givaudan’s and will help us quickly expand our integrated savoury solutions. We look forward to building on the knowledge that Spicetec brings to this strategic segment.”
Mauricio Graber, President of Givaudan’s Flavour Division remarked: “We are very excited to welcome Spicetec employees to the Givaudan family and to begin our work together. We are committed to providing continuity and superior service to existing Spicetec customers, now being supported by Givaudan. In the very near future we will be able to bring a broader offering in the savoury area to all of our customers, both in North America, and other regions as well.“
As previously announced, the total purchase price was USD 340 million, which Givaudan will fund from existing resources. As the planned transaction is structured as an asset deal, the amounts paid include tax benefits which are typical with this type of transaction.
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Givaudan
COMPANY DETAILS
Givaudan
5 Chemin de la Parfumerie
Vernier
1214
Switzerland
5 Chemin de la Parfumerie
Vernier
1214
Switzerland
www.givaudan.com
group.general@givaudan.co...
Tel: +41 22 780 9111
Fax: +41 22 780 9150ACTIVE CATEGORIES
essential oils, oleoresins and plant extracts; flavors and aromas; herbs, spices and seasonings
