23 May 2016
DETAILS
As part of its 2020 strategy
to strengthen capabilities in integrated solutions,
today announced that it is acquiring
ConAgra Foods’ Spicetec Flavors & Seasonings business.
Spicetec offers a range of
flavours, spices and savoury seasoning solutions
to customers, primarily in North America
and operates from locations in
Omaha, Nebraska;
Carol Stream, Illinois and Cranbury, New Jersey,
employing 280 people.
The total purchase price is USD 340 million,
which Givaudan plans to fund from existing resources.
As the planned transaction is structured
as an asset deal, the amounts paid
include tax benefits which are typical
with this type of transaction.
Final cash consideration will be subject to
adjustments for working capital.
The planned acquisition remains subject to
formal approvals from
the relevant antitrust authorities.
The transaction is expected to close
in the next 60-90 days.
The transaction is expected to add
approximately USD 185 million
to Givaudan’s revenue on a full year basis.
Gilles Andrier,
CEO of Givaudan
“This acquisition fits with our 2020 strategy
to expand our offering
to deliver integrated solutions
where flavour and taste play a key role.
Spicetec brings complementary capabilities
to Givaudan with its strong portfolio of spices,
seasoning blends and natural solutions.
We are delighted to welcome
Spicetec’s employees to Givaudan;
our high cultural fit will contribute greatly
to a successful integration.”
For further information, please contact
Peter Wullschleger,
Givaudan Media and Investor Relations
T +41 22 780 9093
E peter_b.wullschleger@givaudan.com
Ingrid Janson,
Givaudan Flavour Communications
T +1 786 602 4337
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