Givaudan to acquire Spicetec Flavors & Seasonings

by Keith Nunes
Share This:
Search for similar articles by keyword: [Conagra Brands], [Flavor]

Spicetec Flavors & Seasonings
The agreement includes the transition of approximately 280 employees as well as plants in Cranbury, N.J., and Carol Stream, Ill.
VERNIER, SWITZERLAND — Givaudan has entered into an agreement with ConAgra Foods, Inc., Omaha, to acquire Spicetec Flavors & Seasonings for approximately $340 million. The agreement includes the transition of approximately 280 employees as well as plants in Cranbury, N.J., and Carol Stream, Ill.
Gilles Andrier, Givaudan
Gilles Andrier, c.e.o. of Givaudan

“This acquisition fits with our 2020 strategy to expand our offering to deliver integrated solutions where flavor and taste play a key role,” said Gilles Andrier, chief executive officer. “Spicetec brings complementary capabilities to Givaudan with its strong portfolio of spices, seasoning blends and natural solutions. We are delighted to welcome Spicetec’s employees to Givaudan; our high cultural fit will contribute greatly to a successful integration.”

Once completed, the transaction is expected to add approximately $185 million in sales to Givaudan on a full year basis, according to the company.

Mauricio Graber, Givaudan
Mauricio Graber, president of Givaudan’s flavor division.

“Combining Givaudan’s leading flavor expertise with Spicetec’s portfolio of products will enable us to deliver a broader range of solutions to our customers in processed meats, savory retail and food service,” said Mauricio Graber, president of the company’s flavor division. “Furthermore, these additional capabilities will help us strengthen the breadth of our industry leading natural ingredients, flavor and taste solutions.”

Givaudan said it plans to fund the transaction from existing resources. The deal is expected to close in the next 60 to 90 days.

Sean Connolly, ConAgra
Sean Connolly, president and c.e.o. of ConAgra

“We are committed to becoming a more focused and higher performing company in order to drive greater shareholder value,” said Sean Connolly, president and chief executive officer of ConAgra Foods. “Divesting Spicetec is the latest action we have taken that will allow ConAgra Foods to invest resources into our core product portfolio to drive sustainable growth.

“We truly appreciate the contributions of the Spicetec employees and look forward to having an ongoing relationship with them as a key supplier to ConAgra Foods.”

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.

 

 


The views expressed in the comments section of Baking Business News do not reflect those of Baking Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.