Givaudan invests in Indonesian centre, completes Centroflora Nutra acquisition
Global flavour and fragrance group Givaudan – the company behind thousands of the scents and tastes we encounter on a daily basis – has invested CHF 2.9 million in a new commercial and development centre in Jakarta, Indonesia. The site, which totals 2,600 square metres, has been designed to “deliver a superior level of applications” across Givaudan’s portfolio, including a wide range of confectionary solutions.
Givaudan’s share price has appreciated by 4% in 5 days
Source: Yahoo Finance
In unrelated, but contemporaneous, news, the company also announced that it had closed the acquisition of Centroflora Nutra (the nutrition division of Centroflora Group – a botanical and fruit extract specialist). The terms of the deal have not been disclosed, but the company said that Centroflora Nutra, which employs 116 people, would have represented “approximately CHF 17 million of incremental sales” last year.
Speaking to the acquisition, Givaudan’s CEO, Gilles Andrier, made the following comment:
“We are delighted to welcome Centroflora Nutra’s employees to the Givaudan family and provide our joint customers with an expanded offering of natural solutions. Centroflora Nutra’s sourcing and social-environmental responsibility activities will strengthen our naturals sourcing platform as well as Givaudan’s existing sustainability programme ‘A Sense of Tomorrow’.”
Louis D’Amico, president of Givaudan’s flavour division, added: “This acquisition is aligned with our ambition to support food and beverage companies in developing great tasting products that align with consumer demands for clean label, organic and natural ingredients. Centroflora Nutra´s product portfolio will complement Givaudan’s existing capabilities in natural flavours, kitchen ingredients, integrated solutions and functional ingredients.”
Dominion holds Givaudan in its Global Trends Managed Fund.
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