Givaudan acquires ConAgra Foods’ spicetec flavours & seasonings biz

Givaudan acquires ConAgra Foods’ spicetec flavours & seasonings biz

6:29 AM, 25th May 2016
Givaudan acquires ConAgra Foods’ spicetec flavours & seasonings biz
Gilles Andrier, CEO of Givaudan. (File photo)

VERNIER, SWITZERLAND: Givaudan SA has acquired spicetec flavours & seasonings business from ConAgra Foods Inc for $340 million. The transaction is expected to close in the next 60-90 days.

As the planned transaction is structured as an asset deal, the amounts paid include tax benefits which are typical with this type of transaction. Final cash consideration will be subject to adjustments for working capital. The transaction is expected to add approximately $185 million to Givaudan’s revenue on a full year basis.

Spicetec offers a range of flavours, spices and savoury seasoning solutions to customers, primarily in North America and operates from locations in Omaha, Nebraska; Carol Stream (Illinois) and Cranbury (New Jersey), employing 280 people.

“This acquisition fits with our 2020 strategy to expand our offering to deliver integrated solutions where flavour and taste play a key role. Spicetec brings complementary capabilities to Givaudan with its strong portfolio of spices, seasoning blends and natural solutions. We are delighted to welcome spicetec’s employees to Givaudan; our high cultural fit will contribute greatly to a successful integration,” said Gilles Andrier, CEO of Givaudan.

“Combining Givaudan’s leading flavour expertise with spicetec’s portfolio of products will enable us to deliver a broader range of solutions to our customers in processed meats, savoury retail and foodservice. Furthermore, these additional capabilities will help us strengthen the breadth of our industry leading natural ingredients, flavour and taste solutions,” said Mauricio Graber, president of Givaudan’s flavour division.

© Worldofchemicals News


Read the latest news from Givaudan:

Givaudan opens new laboratory, office facilities in Pakistan

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Honeywell breaks ground for new manufacturing facility in China

SHANGHAI, CHINA: Honeywell International Inc said that its Honeywell UOP business broke ground on a new manufacturing facility outside Shanghai, China ...

Read more
FMC plans to increase lithium hydroxide production capacity

PHILADELPHIA, US: FMC Corporation plans to increase its production capacity of lithium hydroxide by a total of 20,000 metric tonnes per year, effectiv ...

Read more
Trinseo names DuPont VP as new executive VP, chief financial officer

BERWYN, US: Trinseo has named DuPont’s vice president (VP) Barry Niziolek as the company’s new executive vice president and chief financia ...

Read more
Bread, burgers, pizzas contain cancer causing chemicals: CSE report

NEW DELHI, INDIA: A new report released by Centre for Science and Environment (CSE), claims that many brands of packaged bread and the bread used in r ...

Read more
A path away from reliance on oil

SINGAPORE: The dream of replacing petrochemicals with renewable resources in the manufacture of synthetic fibers and plastics has moved a step closer. ...

Read more
RSA-Talke opens first phase of integrated chemicals hub in Dubai

DUBAI, UAE: RSA-Talke has opened the first phase of its integrated chemicals hub in Dubai’s Jebel Ali Free Zone with an official ceremony. The f ...

Read more