Givaudan intends to acquire Dutch ingredients producer Vika
Swiss flavour and fragrance manufacturer Givaudan is to acquire Dutch ingredient producer Vika in order to strengthen its natural dairy solutions portfolio.
Financial details of the deal have not been divulged by both the companies. According to a statement on Givaudan’s website, Vika’s business would have represented approximately €64m of incremental sales to Givaudan’s results last year on a proforma basis.
Givaudan intends to use its existing resources to fund the acquisition.
Givaudan CEO Gilles Andrier said: “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.”
Givaudan flavour division president Mauricio Graber added: “Savoury 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.
“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.”
The transaction is expected to close in the second half of this year and subject to formal approvals from the relevant anti-trust authorities.
Vika offers a wide range of natural dairy ingredients, stocks, and meat and plant-based extracts.
The company has a workforce of more than 200 employees at its production facilities in Belgium, the UK and New Zealand.