Givaudan to Acquire Spicetec Flavors & Seasonings From ConAgra Foods
As part of its 2020 expansion strategy, Givaudan, the global leader in the creation of fragrances and flavours, is acquiring ConAgra Foods’ Spicetec Flavors & Seasonings business for $340 million.
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 transaction is expected to add approximately $185 million to Givaudan’s revenue on a full year basis.
Gilles Andrier, chief executive of Givaudan, says: “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.”
Mauricio Graber, President of Givaudan’s Flavour Division, says: “Combining Givaudan’s leading flavour expertise with Spicetec’s portfolio of products will enable us to deliver a broader range of solutions to our customers in processed meats, savoury retail and foodservice. Furthermore, these additional capabilities will help us strengthen the breadth of our industry leading natural ingredients, flavour and taste solutions.”
Headquartered in Switzerland with local presence in over 80 locations, Givaudan achieved sales of SFr4.4 billion in 2015 and employs more than 9,500 people worldwide.
