TAGS: Perfumes & Fragrances
Givaudan has announced that it has reached an agreement to acquire Ungerer & Company. The US based company, Ungerer deals with specialty ingredients most notably in essential oils, which provides a rich palette of predominantly natural ingredients for flavor and fragrance creation.
“The acquisition of Ungerer fits very well with our long-term strategy for our core business in flavors and fragrances. They have an excellent reputation in the market, thanks to the quality of their specialty ingredients as well as their strong position in the fast growing local and regional customer segment,” said Gilles Andrier, Givaudan’s CEO.
To Enhance Leadership in the Market
“
We have great respect for the company and are very confident that the acquisition will further enhance our industry leadership, both through the vertical integration into key specialty ingredients for our flavor and fragrance creations, as well as in asserting our leadership with local and regional customers. We look forward to welcoming the Ungerer employees to the Givaudan family,” continued Andrier.
The terms of the deal have not been disclosed and Givaudan plans to fund the transaction through the issuance of debt. Ungerer’s business would have represented approximately USD 250 million of incremental sales to Givaudan’s results in 2018 on a proforma basis. The transaction is expected to close in Q1 2020.
“
I am very proud of all that Ungerer has accomplished throughout its 125 years as an independent company and we are confident that the Company will continue to flourish as part of Givaudan,” said Ungerer’s controlling owner Barbara Voorhees.
“
We believe that we have a strong set of shared values with Givaudan and that this transaction represents a very positive step for Ungerer’s customers and employees.”
Source: Givaudan