Diana Acquires Givaudan's Vegetables, Wines, Vinegars Extracts

French food manufacturer Diana and its majority shareholder, AXA Private Equity, have acquired Givaudan SA’s vegetables, wines and vinegars extracts range.

AXA Private Equity has also set up a €50 million payment-in-kind tranche to help finance this and other planned future acquisitions.

Diana, which has been completing a string of acquisitions, has consolidated its market position in several product areas and geographies including Asia, the U.S. and Eastern Europe. Diana now generates 50% of its turnover outside Europe and aims to increase this figure to 60%-70% in the near future, to take advantage of opportunities in emerging markets. 

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