Givaudan has announced that it has purchased a 40.6% stake in French ingredients producer Naturex for €522 million ($645.66 million).
The Swiss ingredients giant has also announced its intention to complete a full takeover of the company by purchasing Naturex’s remaining shares in the near future, in a deal which could rise to €1.3 billion ($1.61 billion).
Naturex develops a range of natural ingredients derived from plant extracts and operates 16 production sites throughout Europe, North America, South America and Asia.
Givaudan announced in its full-year financial results – published earlier this year – that it would seek opportunities to encourage growth, and this purchase suggests the company could pursue acquisitions to stimulate growth.
This investment will further strengthen Givaudan’s growing ingredients portfolio, as the company has completed several major acquisitions over the last year, including the purchase of the nutrition division of Brazil’s Centroflora and the acquisition of Dutch dairy ingredients manufacturer Vika.
Givaudan CEO Gilles Andrier said: “The acquisition of a significant shareholding in Naturex fits fully with our 2020 strategy to expand our offering to deliver natural products to our customers.
“Naturex further complements our capabilities with its strong portfolio of plant extracts and natural ingredients across the food and beverage, nutrition and health and personal care sectors.”
© FoodBev Media Ltd 2021
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