SWITZERLAND – The global fragrances and flavours company, Givaudan has completed the acquisition of Ungerer & Company, a US based flavour, fragrance and specialty ingredients firm.
Headquartered in New Jersey, USA, Ungerer is a leading independent company in the flavour and fragrance specialty ingredients business, most notably in essential oils, and also has an impressive local and regional customer presence in North America.
Givaudan had announced that it had reached an agreement to acquire the company in November 2019.
With a presence in more than 60 countries, a total of eight manufacturing facilities and six R&D centres, Ungerer’s capabilities and its 650 employees will further extend Givaudan’s market leadership in its core flavour and fragrance activities.
Gilles Andrier, Givaudan’s CEO said: “It’s an exciting day as we welcome Ungerer employees to the Givaudan family. Acquiring Ungerer fits very well with our long term strategy for our 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
“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.”
While terms of the deal have not been disclosed, Givaudan said that Ungerer’s business would have represented approximately US$250 million of incremental sales to its results in 2019 on a proforma basis.
In 2019, Givaudan reported sales of US$6.43 billion, an increase of 5.8% on a like-for-like basis compared to 2018 with the flavour division generating US$3.53 billion in total sales.
In a move to further increase it flavor production capacity, the company recently invested US$30m to double production capacity of liquid flavour production for beverages, dairy and sweet goods at its Nantong, China manufacturing facility.
Givaudan is also partnering with Bühler to open an Innovation Center dedicated to plant-based food in Singapore.