Givaudan, global fragrance, flavours and active ingreedients company, has acquired 40.6% of the shares of Naturex, a French public listed company, for EUR 135 per share and a total consideration of EUR 522 million.

Givaudan intends to launch a mandatory cash tender offer for all remaining outstanding shares of Naturex, at a price of EUR 135 per share. The Board of Directors and Management of Naturex are fully supportive of the transaction.

Naturex is headquartered in Avignon, France, and is internationally known for plant extraction and the development of natural ingredients and solutions for the food, health and beauty sectors. It is headquartered in Avignon, France, and reported sales of EUR 405 million in 2017, operates from 16 production sites around the world and employs 1,700 people.

The acquisition is aligned with the company’s strategy by 2020 to strengthen its capabilities in natural-flavored solutions for its customers and goes against a backdrop of multinational companies whose consumers are looking for more natural and organic brands and it reached the supply chain.

Louie D’Amico, President Designate of Givaudan’s Flavour Division said: “Consumers around the world are increasingly demanding more natural and organic products from food and beverage companies. Naturex will be extremely complimentary to the acquisitions we have announced in this space over the last few years, namely Spicetec, Activ International, Vika and Centroflora Nutra”.