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.
essential oils, oleoresins and plant extracts; flavors and aromas; herbs, spices and seasonings
About Givaudan
Givaudan is the global leader in the creation of flavours and fragrances, with its heritage stretching back over 250 years, the Company has a long history of innovating tastes and scents. From a favourite drink to your daily meal, from prestige perfumes to cosmetics and laundry care, its creations inspire emotions and delight millions of consumers the world over. The Company is committed to driving purpose-led, long-term growth while leading the way to improve happiness and health for people and nature. In the fiscal year 2019, the company employed over 14,900 people worldwide and achieved sales of CHF 6.2 billion and a free cash flow of 12.7% of sales. Let’s imagine together on www.givaudan.com.
About Givaudan Taste & Wellbeing
Powered by innovation and creativity, Givaudan Taste & Wellbeing aims to shape the future of food by becoming the co-creation partner of choice to its customers. Built on its global leadership position in flavours and taste, the Company goes beyond to create food experiences that do good and feel good, for body, mind and planet. With an expanded portfolio of products across flavours, taste, functional and nutritional solutions and a deep knowledge of the food ecosystem, Givaudan’s passion is to collaborate with customers and partners to develop game changing innovations in food and beverage. Let’s imagine together the future of food. Learn more at www.givaudan.com/taste-wellbeing.
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