Givaudan acquisition of Ungerer : Givaudan has agreed to acquire Ungerer & Company, a US-based flavour, fragrance, and specialty ingredients company, for an undisclosed price.
Ungerer, which is headquartered in New Jersey is in the flavor and fragrance specialty ingredients business, in particular, in essential oils.
The company, which was established more than 125 years ago, is said to have developed a strong market position across all segments. It has a presence across 60 plus countries and operates eight manufacturing facilities and six R&D centers.
Barbara Voorhees – controlling owner of Ungerer, commenting on Givaudan acquisition of Ungerer, said: “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.”
Givaudan acquisition of Ungerer. Image by Free-Photos from Pixabay.
Givaudan said that Ungerer’s capabilities along with its 650 employees will extend its market leadership further in its core flavor and fragrance activities.
On a proforma basis, Ungerer’s business would have represented around $250 million of incremental sales to Givaudan’s results in 2018.
Commenting on Givaudan acquisition of Ungerer, Gilles Andrier – CEO of Givaudan 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.”
Givaudan acquisition of Ungerer is likely to be wrapped up in the first quarter of next year.