As part of its 2020 strategy to expand the capabilities of its global flavor and fragrance business, Givaudan today announced that it has reached an agreement to acquire Ungerer, the US-based flavor, fragrance, and specialty ingredients company.
WHO: Ungerer is a leading independent specialty ingredient, flavor, and fragrance company, serving customers in the food and beverage, nutraceutical, and flavor and fragrance industries. It has built a reputation as one of the world’s premier purveyors of specialty ingredients in essential oils and aroma chemicals, as well as having a strong position in flavor and fragrance formulations, particularly in the local and regional customer segment in North America. The company is active in more than 60 countries with 650 employees, eight manufacturing facilities, and six R&D centers. Founded more than 125 years ago, Ungerer has been owned and controlled by the Voorhees family over several decades, predominantly under the leadership of Gary Voorhees.
Givaudan is the global leader in the creation of flavors and fragrances. In close collaboration with food, beverage, consumer product, and fragrance partners, Givaudan develops tastes and scents that delight consumers the world over. Headquartered in Switzerland with local presence in almost 150 locations, the company has more than 13,500 employees worldwide.
WHY: Strengthening specialty ingredient capabilities and leadership in the fast-growing local and regional customer segment.
IN THEIR OWN WORDS: Gilles Andrier, Givaudan’s CEO, said: “The acquisition of Ungerer fits very well with our long term strategy for our core business in flavors and fragrances. 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 segments. 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.”
“I am very proud of all that Ungerer has accomplished throughout its 125 years as an independent company and we are confident that the Company will continue to flourish as part of Givaudan,” said Ungerer’s controlling owner Barbara Voorhees. “We believe that we have a strong set of shared values with Givaudan and that this transaction represents a very positive step for Ungerer’s customers and employees. I know that my late husband Gary Voorhees would be immensely satisfied to see the company that he led with integrity for many years join forces with the industry leader, Givaudan.”
- Givaudan acquired Ungerer.
- The terms of the deal have not been disclosed.
- Givaudan plans to fund the transaction through the issuance of debt.
- Givaudan achieved sales of CHF 5.5 billion in 2018.
- Ungerer’s business would have represented approximately USD 250 million of incremental sales to Givaudan’s results in 2018 on a pro forma basis. The transaction is expected to close in Q1 2020.
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