Givaudan strengthens its Asian presence with the acquisition of Vietnam's Golden Frog
today May 20, 2019
Swiss group Givaudan, the world leader in fragrance and flavours, has signed an agreement to buy Golden Frog, a Vietnamese manufacturer of natural flavours, the group has announced. Financial terms of the transaction were not disclosed.
The deal will allow the group to reinforce its position in southeast Asia, a market with strong growth potential for the group, it said in a press release.
Golden Frog manufactures natural flavours, extracts and essential oils for the food and beverage industries, with a large range of natural ingredients including herbs, spices and fruit and vegetable extracts.
Based in Ho Chi Minh province, where it also has a production site, the company employs 156 people and supplies the southeast Asian markets.
Terms of the transaction were not disclosed, but Golden Frog should account for an additional 10 million Swiss francs (€8.8 million) in turnover for Givaudan in 2018 on a pro forma basis, the company said.
Last year, the group, which creates fragrances and aromas for perfume, cosmetics and personal hygiene products as well as for the food industry, recorded 5.5 billion Swiss francs in revenue.
The group expects to finalise the transaction in the second half of the fiscal year.
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