Givaudan has reached an agreement to acquire the Vietnamese flavours company for an undisclosed amount in a bid to strengthen its market position in naturals.
According to Louie D’Amico, president of Givaudan’s Flavour Division, the acquisition of the Ho Chi Minh City-based flavour company will help Givaudan strengthen and expand its key offering in naturals to global, regional and local customers with a complete and competitive range of natural solutions.
“With a growing population of over 97 million people, Vietnam is a market with tremendous growth potential for Givaudan in the Asia Pacific region,” said Monila Kothari, regional commercial head of Givaudan APAC.
Kothari added that the combination of Golden Frog’s naturals portfolio with Givaudan’s long heritage in naturals and sustainable sourcing will expand its leadership position in the country and bring numerous benefits to their customers, employees and communities locally and across the ASEAN region.
Golden Frog is a Ho Chi Minh City-based flavour firm that has developed natural flavours and extracts and essential oils for the food and beverage industry since 2012.
While terms of the deal have not been disclosed, Golden Frog’s business would have represented approximately CHF10 million ($9.9 million) of incremental sales to Givaudan’s results in 2018 on a proforma basis.
Givaudan plans to fund the transaction from existing resources and the deal is expected to close in the second half of 2019.
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