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Givaudan to acquire Naturex, world leader in natural ingredients

As part of its 2020 strategy to strengthen its capabilities in natural flavor solutions for its customers, Givaudan announced on March 26 that it had reached an agreement to acquire 40.6 % of the shares of Naturex, a listed French company, at a price of EUR 135. - per share for a total amount of EUR 522 million. This agreement is subject to all appropriate regulatory approvals.
Givaudan intends to launch a mandatory cash tender offer for all outstanding Naturex shares, at a price of EUR 135. - per share. The Board of Directors and management of Naturex unreservedly approve this transaction.
Naturex is one of the world' s leading companies in plant extraction and the development of natural ingredients and solutions for the food, health and cosmetics sectors. Headquartered in Avignon (France), the company recorded sales of EUR 405 million in 2017, operates from 16 production sites worldwide and employs 1,700 people.
Gilles Andrier , Chief Executive Officer of Givaudan, said: "The acquisition of a significant stake in Naturex is perfectly in line with our 2020 strategy to broaden our offer to provide natural products to our customers. Givaudan is the world leader in natural flavors, and Naturex complements our capabilities with its strong portfolio of botanical extracts and natural ingredients for the food and beverage, nutrition and health, and personal care sectors. We look forward to working with Naturex's management and shareholders over the coming months to gain their support for the planned acquisition."

Louie D'Amico, President of Givaudan's Flavours Division, said: "Consumers around the world are increasingly looking to the food and beverage industry to offer them more natural and organic products. Naturex will perfectly complement the acquisitions we have announced in this field over the last few years, namely Spicetec, Activ International, Vika and Centroflora Nutra."

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