As part of Givaudan's 2020 strategy to strengthen its integrated solutions strategies, the company announced the acquisition of ConAgra Foods' Spicetec Flavors & Seasonings business.
“This acquisition fits with our 2020 strategy to expand our offering to deliver integrated solutions where flavor and taste play a key role. 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," said Gilles Andrier, Givaudan CEO.
The deal is going through at the price of $340 million, in which Givaudan will fund from existing resources. The transaction is expected to close in the next 60 to 90 days.
