As part of its 2020 strategy to expand the capabilities of its global flavor and fragrance business, Givaudan has announced that it has reached an agreement to acquire Ungerer & Co., the U.S.-based flavor, fragrance, and specialty ingredients company. Headquartered in New Jersey, Ungerer is an independent company in the flavor and fragrance specialty ingredients business, most notably in essential oils, which provides a rich palette of predominantly natural ingredients for flavor and fragrance creation, as well as for end customers of such specialties.
Founded more than 125 years ago, Ungerer has developed a strong market position in all segments and a high-quality reputation with its customer base. With a presence in more than 60 countries, a total of eight manufacturing facilities, and six R&D centers, Ungerer’s capabilities and its 650 employees will further extend Givaudan’s market leadership in its core flavor and fragrance activities.
“The acquisition of Ungerer fits very well with our long-term strategy for our core business in flavors and fragrances,” said Gilles Andrier, Givaudan’s CEO. “They have an excellent reputation in the market, thanks to the quality of their specialty ingredients as well as their strong position in the fast growing local and regional customer segment. We have great respect for the company and are very confident that the acquisition will further enhance our industry leadership, both through the vertical integration into key specialty ingredients for our flavor and fragrance creations, as well as in asserting our leadership with local and regional customers. We look forward to welcoming the Ungerer employees to the Givaudan family.”
The terms of the deal have not been disclosed and Givaudan plans to fund the transaction through the issuance of debt. The transaction is expected to close in the first quarter of 2020.
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