As part of its 2020 strategy to strengthen its capabilities in natural flavour solutions for its customers, Givaudan announced that it has entered into an agreement to acquire 40.6 % of the shares of Naturex, a French public listed company, for EUR 135 per share and a total consideration of EUR 522 m. Givaudan intends to launch a mandatory cash tender offer for all remaining outstanding shares of Naturex, at a price of EUR 135 per share.

Naturex is an international leader in plant extraction and the development of natural ingredients and solutions for the food, health and beauty sectors. Naturex is headquartered in Avignon/France and reported sales of EUR 405 m in 2017, operates from 16 production sites around the world and employs 1,700 people.

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.”

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.”