20 May 2019
DETAILS
As part of its 2020 strategy to strengthen
its naturals capabilities and its presence
in the high growth markets of Asia Pacific,
Givaudan announced that it has reached
an agreement
to acquire Golden Frog,
a Vietnamese flavour company.
Golden Frog manufactures
natural flavours, extracts and essential oils
for the food and beverage industry.
It offers a wide range of natural ingredients
including herbs, spices, fruit and vegetable extracts
and essential oils from the great biodiversity of Vietnam.
With headquarters and manufacturing facilities
in the Ho Chi Minh area, Golden Frog
employs 156 people and caters
to the needs of the ASEAN markets.
While terms of the deal have not been disclosed,
Golden Frog’s business would have represented
approximately CHF 10 million of incremental sales
to Givaudan’s results in 2018 on a proforma basis.
Givaudan plans to fund the transaction
from existing resources and is expected to close
in the second half of 2019.
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Louie D’Amico,
President of Givaudan’s Flavour Division
“Strengthening and expanding our offering
in naturals continues to be a key priority
for Givaudan.
The addition of Golden Frog’s product portfolio,
talent and know-how will further enable Givaudan
to provide global, regional and local customers
with complete and competitive natural solutions.”
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Monila Kothari,
Regional Commercial Head, APAC
“With a growing population of over 97 million people,
Vietnam is a market with tremendous growth potential
for Givaudan in the Asia Pacific region.
The combination of Golden Frog’s naturals portfolio
with our long heritage in naturals
and sustainable sourcing will expand
our leadership position in the country
and bring numerous benefits to our customers,
employees and communities locally
and across the ASEAN region.”
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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