USA – Swiss flavor and fragrance company, Givaudan has reached an agreement to acquire Ungerer & Company, the US-based flavour, fragrance and specialty ingredient company.
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.
With a presence in more than 60 countries, a total of eight manufacturing facilities and six R&D centres, Givaudan said that Ungerer’s capabilities and its 650 employees will further extend the company’s market leadership in its core flavour and fragrance activities.
Gilles Andrier, Givaudan’s CEO said: “The acquisition of 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.”
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.”
The terms of the deal were not been disclosed. Givaudan plans to fund the transaction through the issuance of debt. The transaction is expected to close in Q1 2020. Givaudan said that Ungerer’s business would have represented approximately US$250 million of incremental sales to 2018 financial results on a proforma basis.