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Givaudan to acquire Vika B V to boost natural dairy solution portfolio
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Saturday, 15 July, 2017, 08 : 00 AM [IST]
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Geneva
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Givaudan, the global leader in flavours and fragrances, will acquiring Vika B V, which is headquartered in the Netherlands, to strengthen its portfolio of natural dairy solutions.
The latter offers a range of natural dairy ingredients, fonds, stocks and meat- and plant-based extracts to customers in the food and beverage industry.
Vika has also facilities in Belgium, the United Kingdom and New Zealand, employing globally over 200 employees.
Gilles Andrier, chief executive officer, Givaudan 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,” he added.
“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,” Andrier said.
Mauricio Graber, president, flavour division, Givaudan, said, “Savoury and dairy are two categories where consumers feel all-natural ingredients are important, and it is our aim to keep strengthening our offerings 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,” he added.
While the terms of the deal have not been disclosed, Vika’s business would have represented approximately 64 million Euro of incremental sales to Givaudan’s results in 2016 on a pro forma basis. Givaudan plans to fund the transaction from existing resources.
The planned acquisition remains subject to formal approvals from the relevant anti-trust authorities. The transaction is expected to close in the second half of 2017.
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