Flavours company Givaudan has agreed to acquire Vika, a Dutch ingredients manufacturer, to strengthen its position in the dairy market.
Vika produces a range of natural dairy ingredients, fonds and stocks, as well as meat and plant-based extracts for customers in the food and beverage industry. As well as headquarters in the Netherlands, it operates facilities in Belgium, the UK, and New Zealand, employing over 200 people worldwide.
Although terms have not been disclosed, Vika’s business would have added around €64 million in incremental sales to Givaudan’s results for 2016.
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. 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.”
Mauricio Graber, president of Givaudan’s flavour division, said: “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 planned acquisition remains subject to formal approvals from the relevant antitrust authorities. The transaction is expected to close in the second half of 2017.
© FoodBev Media Ltd 2017