PARIS — Boosted by its acquisition of Quest, fragrance and flavors supplier Givaudan announced first-quarter sales of 890 million Swiss francs, or $722 million at average exchange, up 18 percent (or 19.8 percent in local currencies) year-on-year.
The Varnier, Switzerland-based firm said in a statement that the hike reflects good organic growth and the consolidation of Quest's sales as of March. As reported, Givaudan announced it would acquire Quest from Imperial Chemical Industries plc late last year in a deal valued at 1.2 billion pounds, or $2.21 billion at average yearly exchange.
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