Givaudan, the Vernier, Switzerland-based manufacturer of flavours, fragrances alongside active cosmetic ingredients, had issued a statement on Saturday, the 9th of November 2019, saying that it would be purchasing the Lincoln Park, New Jersey-based fragrance and flavour manufacturer, as the world’s largest company in the flavour and fragrance industry had been exploring an expansion strategic as a part of its long-term growth ploy, nonetheless, financial terms of the deal had yet to be revealed.
Aside from that, according to Givaudan’s Saturday’s (November 9th) statement, the Swiss industry leader in fragrance and flavour had posted an annual sale of $5.55 billion last month, while the Ungerer, employing roughly 650 people, would have a lump-sum of $250 million in additional sales based on 2018’s earnings’ report.
On top of that, expressing an out-and-out optimism over Ungerer’s market reputation and specialty ingredients, Givaudan Chief Executive, Gilles Andrier said in a statement earlier on Saturday (November 9th), “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. ”