VIETNAM – Swiss flavors and fragrances company, Givaudan has announced that it has agreed to acquire Golden Frog, a Vietnamese company owned flavor house for an undisclosed sum.
The acquisition is part of the company’s 2020 strategy to strengthen its naturals capabilities and its presence in the high growth markets of Asia Pacific.
Established in 2002, Golden Frog manufactures natural flavours, extracts and essential oils for the food and beverage industry.
It offers a wide range of natural ingredients including herbs, spices, fruit and vegetable extracts and essential oils from the great biodiversity of Vietnam.
With headquarters and manufacturing facilities in the Ho Chi Minh area, Golden Frog employs 156 people and caters to the needs of the ASEAN markets.
“Strengthening and expanding our offering in naturals continues to be a key priority for Givaudan,” said Louie D’Amico, President of Givaudan’s Flavour Division.
“The addition of Golden Frog’s product portfolio, talent and know-how will further enable Givaudan to provide global, regional and local customers with complete and competitive natural solutions.”
The transaction, which is expected to close in the second half of 2019 further leverages Givaudan’s commitment to growth in the Asia Pacific region.
Last year, Givaudan opened a new CHF 2.9 million (US$2.8 million) commercial and development center in Jakarta, Indonesia and in February, it inaugurated a new US$59.8 million (CHF 60 million) flavors facility in Pune, India.
“With a growing population of over 97 million people, Vietnam is a market with tremendous growth potential for Givaudan in the Asia Pacific region,” said Monila Kothari, Regional Commercial Head, APAC.
“The combination of Golden Frog’s naturals portfolio with our long heritage in naturals and sustainable sourcing will expand our leadership position in the country and bring numerous benefits to our customers, employees and communities locally and across the ASEAN region.”
Recently, the company was named among the founding members of the China Food Tech Hub, launched by Chinese start-up accelerator and venture capital firm Bits x Bites.
With the platform, Givaudan is looking to grow in Asia by collaborating with early-stage food tech companies by identifying emerging new ingredients, technologies, product formats and business models.