A new acquisition for Givaudan! The aroma and perfume giant is continuing its growth strategy in the natural ingredients sector with a two-time takeover of the French company Naturex.
Based in Avignon, Naturex specializes in the production and marketing of plant-based ingredients for the food and nutraceuticals and cosmetics sectors. Last year, the company achieved a turnover of 405 million euros.
Givaudan and Naturex have entered into an agreement for the acquisition of 40.6% of the shares of Naturex for 135 euros per share, subject to regulatory approvals. Following the acquisition, Givaudan will launch a mandatory cash tender offer for all remaining outstanding shares of Naturex, at a price of euros 135 per share. The transaction values Naturex at approximately 1.3 billion euros.
While consumers around the world are increasingly demanding more natural and organic products, Givaudan says the acquisition of Naturex will be “extremely complimentary” to their previous ones in this sector over the last few years. According to Gilles Andrier, CEO of Givaudan, the acquisition complements the group’s capabilities with “its strong portfolio of plant extracts and natural ingredients”.
For its part, Olivier Rigaud, CEO of Naturex said this transaction is supported by “the ambition to become the leader in natural ingredients.”
Naturex operates from 16 production sites and employs 1,700 people around the world and achieved a revenue of 404.9 million euros in 2017.
