Givaudan digs deep for dairy: acquires Vika
Givaudan, the flavor and fragrance brand that has a hand in a shocking number of products we consume daily, is hoping to increase its dairy portfolio with the acquisition of Vika. Vika supplies customers in the food and beverage industry with a wide variety of natural dairy ingredients, fonds and stocks, as well as meat and plant-based extracts. Worldwide, Vika employs over 200 people in four countries.
Gilles Andrier, Givaudan’s CEO, said: “Expanding our offering in naturals is a key priority for Givaudan in the context of our 2020 strategy. Vika’s products, technologies and talent will strengthen our existing capabilities and our ability to develop new taste solutions. We are delighted to welcome Vika’s employees to our company and are confident that their industry expertise will accelerate Givaudan’s position with existing and new customers.”
Givaudan is not disclosing the terms of the deal, but Vika’s business would have represented “approximately €64 million of incremental sales” to the company’s 2016 results on a proforma basis. The deal, which is expected to close later this year, is yet to be approved by antitrust authorities.
Mauricio Graber, president of Givaudan’s flavor division, was keen to highlight what the company is hoping for from the Vika acquisition:
“Vika brings complementary capabilities to Givaudan with its strong portfolio of natural dairy solutions, fonds, stocks, glazes and marinades, and vegetable and meat extracts. Investments in natural dairy and savory solutions fit with our ambition to expand our offerings and deliver integrated solutions where flavor and taste play a key role.”
“Savory and dairy are two categories where consumers feel all-natural ingredients are important and it is our aim to keep strengthening our offering in these sectors,” says Mauricio Graber, President of Givaudan’s Flavor Division. We look forward to leveraging Vika’s expertise which will complement our own heritage and knowledge in extraction, fermentation and concentration of natural ingredients, opening up new market opportunities for both companies.”
Dominion holds Givaudan in its Global Trends Managed Fund.
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