Flavours and fragrances company Givaudan is acquiring the nutrition division of Brazil’s Centroflora Group.
The acquisition forms part of Givaudan’s 2020 strategy to strengthen its global offering of natural extracts and further develop its presence in Brazil.
Centroflora’s nutrition division, Centroflora Nutra, manufactures botanical extracts and dehydrated fruits for the food, beverage and consumer goods sectors. It offers a wide variety of plant extracts from various regions of the world, with a particular focus on those from Brazil, which is renowned for its biodiversity.
With headquarters and a manufacturing facility in Botucatu, Brazil, Centroflora Nutra employs about 116 people and exports products globally.
Givaudan CEO Gilles Andrier said: “The acquisition of Centroflora’s nutrition division fits well with our 2020 strategy to expand our offering in naturals and is aligned with our sustainability goals. It offers a unique opportunity to strengthen our naturals sourcing platform for Givaudan’s flavours, fragrances and cosmetics businesses. Centroflora’s comprehensive sustainability management programme will reinforce our company’s contribution to preserving the environment, stimulating the wellbeing of communities from which we source, and safeguarding resources for the long term.”
Mauricio Graber, president of Givaudan’s flavour division, added: “Balancing consumer needs for natural products while preserving natural resources is a top priority for Givaudan. The combination of Centroflora’s natural extracts portfolio and its sustainability leadership with our long heritage in naturals and sustainable sourcing will bring numerous benefits to our customers, employees and communities in Brazil and globally.”
While terms of the deal have not been disclosed, Centroflora Nutra’s business would have represented approximately CHF 17 million ($17.67 million) of incremental sales to Givaudan’s results in 2017 on a pro-forma basis.
Givaudan plans to fund the transaction from existing resources. It’s expected to close early in 2018.
Source: FoodBev.com
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