Givaudan has announced the acquisition of 40.6 percent of the shares in Naturex for €522 million (€135 per share) and signaled its intent to launch a mandatory cash tender offer for the remaining outstanding shares. The Board of Directors and Management of Naturex are fully supportive of the transaction.

The deal forms part of the flavor and fragrances manufacturer’s 2020 strategy to strengthen its capabilities in natural flavor solutions for its customers.

“The acquisition of a significant shareholding in Naturex fits fully with our 2020 strategy to expand our offering to deliver natural products to our customers,” said Gilles Andrier, CEO of Givaudan. “Givaudan is the global leader in the space of natural flavors and Naturex further complements our capabilities with its strong portfolio of plant extracts and natural ingredients across the food and beverage, nutrition and health and personal care sectors. We look forward to working with the management and shareholders of Naturex in the coming months to secure their support for the acquisition.”

“Consumers around the world are increasingly demanding more natural and organic products from food and beverage companies. Naturex will be extremely complementary to the acquisitions we have announced in this space over the last few years, namely Spicetec, Activ International, Vika and Centroflora Nutra,” added Louie D’Amico, President Designate of Givaudan’s Flavor Division.