Givaudan, a Switzerland-based flavours and fragrances company, announced that it has reached an agreement to acquire Golden Frog, a Vietnamese flavour company.
The deal will strengthen Givaudan’s market leading position in naturals flavors and its presence in the high growth markets of Asia Pacific, the company said in a statement.
Based in Ho Chi Minh City, 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.
While terms of the deal have not been disclosed, Golden Frog’s business would have represented approximately CHF 10 million ($9.9 million) of incremental sales to Givaudan’s results in 2018 on a proforma basis.
Givaudan plans to fund the transaction from existing resources and is expected to close in the second half of 2019.
“Strengthening and expanding our offering in naturals continues to be a key priority for Givaudan. 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,” said Louie D’Amico, President of Givaudan’s Flavour Division.
Givaudan recently also acquired Albert Vieille, a French company specialised in natural ingredients used in the fragrance and aromatherapy markets.