Givaudan has announced that it reached an agreement to acquire Vietnamese flavor company Golden Frog.
“Strengthening and expanding our offering in naturals continues to be a key priority for Givaudan,” said Louie D’Amico, president of Givaudan’s flavor division. “The addition of Golden Frog’s product portfolio, talent and know-how will further enable Givaudan to provide global, regional and local customers with complete and competitive natural solutions.”
Headquartered in Ho Chi Minh area, Gold Frog is a manufacturer of natural flavors, extracts and essential oils for the food and beverage industry. With 156 people employed by the company, Golden Frog provides a range of natural herbs, spices, fruit and vegetable extracts and essential oils sourced from Vietnam.
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Terms of the deal weren’t disclosed, but Golden Frog’s business would have represented approximately CHF 10 million of incremental sales to Givaudan’s results in 2018 on a proforma basis. Givaudan will fund the transaction from existing resources, and the deal is expected to close in the second half of 2019.
Commenting on the Vietnamese market, Monila Kothari, regional commercial head for APAC said: “With a growing population of over 97 million people, Vietnam is a market with tremendous growth potential for Givaudan in the Asia Pacific region. The combination of Golden Frog’s naturals portfolio with our long heritage in naturals and sustainable sourcing will expand our leadership position in the country and bring numerous benefits to our customers, employees and communities locally and across the ASEAN region.”
