Givaudan has reached an agreement to acquire Ungerer & Company, the US-based flavour, fragrance and specialty ingredient company.
Headquartered in New Jersey, Ungerer has a presence in more than 60 countries, eight manufacturing facilities and six research and development centres.
Givaudan said Ungerer would have added approximately $250 million in extra sales on the basis of last year’s results.
According to Gilles Andrier, Givaudan CEO, the acquisition fits “very well” well with the company’s strategy for its core business in flavours 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 segment,” he said.
“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 flavour 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.”
Ungerer’s controlling owner Barbara Voorhees added: “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.
“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.”
Earlier this year, Givaudan bought Vietnamese flavours company Golden Frog in a move to strengthen its presence in the Asia Pacific market.
© FoodBev Media Ltd 2024
