Givaudan is in negotiations to acquire a 40.6% stake in French natural ingredients group Naturex.
The Swiss fragrance and flavour producer said today that it intends to purchase a stake in Naturex for €522m, or €135 per share.
It also intends to match remaining outstanding shares in a mandatory cash tender offer – valuing Naturex at €1.3bn.
Gilles Andrier, CEO of Givaudan, 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.
“Givaudan is the global leader in the space of natural flavours and 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.
“We look forward to working with the management and shareholders of Naturex in the coming months to secure their support for the acquisition.”
Meanwhile, Louie D’Amico, President Designate of Givaudan’s Flavour Division, said: “Consumers around the world are increasingly demanding more natural and organic products from food and beverage companies.
“Naturex will be extremely complimentary to the acquisitions we have announced in this space over the last few years, namely Spicetec, Activ International, Vika and Centroflora Nutra.”
