As part of its 2020 strategy aimed at strengthening its capacities in the field of natural flavor solutions for its customers, Givaudan announced on March 26 that it had entered into an agreement to acquire 40.6% of the shares of Naturex, French listed company, at a price of EUR 135. - per share and for a total sum of EUR 522 million. This agreement is subject to all appropriate regulatory approvals.
Givaudan intends to launch a mandatory cash takeover bid for all Naturex shares remaining in circulation, at a price of EUR 135. - per share. The Board of Directors and the management of Naturex fully approve this transaction.
Naturex is one of the world leaders in plant extraction and the development of ingredients and natural solutions for the food, health and cosmetics sectors. The company, headquartered in Avignon (France), recorded sales of EUR 405 million in 2017, operates from 16 production sites around the world and employs 1,700 people.
Gilles Andrier, CEO of Givaudan, declared: “The acquisition of a significant stake in Naturex is perfectly in line with our 2020 strategy aimed at expanding our offer in order to offer natural products to our customers. Givaudan is the world leader in natural flavors and Naturex complements our capabilities with its strong portfolio of plant extracts and natural ingredients for the food and beverage, nutrition and health sectors, and body care. We look forward to working with the management and shareholders of Naturex over the coming months to gain their support for the planned acquisition. "
Louie D'Amico, President of Givaudan's Flavors Division, said: “Consumers around the world increasingly want the food and beverage industry to offer them more natural and organic products. Naturex will be perfectly complementary to the acquisitions we have announced in this area in recent years, namely Spicetec, Activ International, Vika and Centroflora Nutra. "