As part of its 2020 strategy to strengthen its capabilities in natural flavour solutions for its customers, Givaudan has announced that it has entered into an agreement to acquire 40.6% of the shares of Naturex for €135 per share and a total consideration of €522 million. This agreement is subject to all of the appropriate regulatory approvals.

Givaudan intends to launch a mandatory cash tender offer for all remaining outstanding shares of Naturex, at a price of €135 per share. The Board of Directors and Management of Naturex are fully supportive of the transaction.

“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,” said Gilles Andrier, CEO of Givaudan. “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.”

“Consumers around the world are increasingly demanding more natural and organic products from food and beverage companies,” said Louie D’Amico, President Designate of Givaudan’s Flavour Division. “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.”