Givaudan Enhances Dairy Portfolio with Vika Acquisition
11 Jul 2017 --- Flavors and fragrance specialists Givaudan is acquiring Dutch enterprise Vika BV in a bid to bolster its portfolio of natural dairy solutions. Vika BV offers a range of natural dairy ingredients, fonds and stocks, as well as meat and plant-based extracts to customers in the food and beverage industry.
Headquartered in the Netherlands, Vika has also facilities in Belgium, the UK, and New Zealand, employing more than 200 employees worldwide.
“Expanding our offering in naturals is a key priority for Givaudan in the context of our 2020 strategy. Vika’s products, technologies and talent will strengthen our existing capabilities and our ability to develop new taste solutions. We are delighted to welcome Vika’s employees to our company and are confident that their industry expertise will accelerate Givaudan’s position with existing and new customers,” says Gilles Andrier, CEO of Givaudan.
“Vika brings complementary capabilities to Givaudan with its strong portfolio of natural dairy solutions, fonds, stocks, glazes and marinades, and vegetable and meat extracts,” Mauricio Graber, President of Givaudan’s Flavor Division Mauricio Graber tells FoodIngredientsFirst.
“Investments in natural dairy and savory solutions fit with our ambition to expand our offerings and deliver integrated solutions where flavor and taste play a key role.”
“Additionally, Vika’s business would have represented approximately €64 million of incremental sales to Givaudan’s results in 2016 on a proforma basis.”
“We are not disclosing the terms of the deal, explains Graber.”
“Savory and dairy are two categories where consumers feel all-natural ingredients are important and it is our aim to keep strengthening our offering in these sectors,” says Mauricio Graber, President of Givaudan’s Flavor Division.
“We look forward to leveraging Vika’s expertise which will complement our own heritage and knowledge in extraction, fermentation and concentration of natural ingredients, opening up new market opportunities for both companies.”
Even though terms of the deal have not been disclosed, Vika’s business would have represented approximately €64 million of incremental sales to Givaudan’s results in 2016 on a proforma basis.
Givaudan plans to fund the transaction from existing resources.
The planned acquisition remains subject to formal approvals from the relevant antitrust authorities and is expected to close in the second half of this year.
by Gaynor Selby
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