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Givaudan Completes Ungerer Deal

The acquisition was made to enhance Givaudan’s specialty ingredients capabilities and leadership in the local and regional customer category.

PARIS — Givaudan said Thursday that it has completed its acquisition of Ungerer & Co., an American flavor, fragrance and specialty ingredients company, which had been owned and controlled by the Voorhees family.

Financial terms of the deal, which was first revealed in November and funded with existing resources, were not disclosed. But Givaudan said Ungerer’s business would have represented about $250 million in incremental sales to the company’s results in 2019 on a pro-forma basis.

Lincoln Park, N.J.-based Ungerer, which is more than 125 years old, provides a wide palette of mostly natural ingredients, notably essential oils.

Companies today are keen to tap into natural ingredient producers, which are key to nourishing the swiftly rising trend of natural fragrances and beauty products around the world.

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“Ungerer also has an impressive local and regional customer presence for both flavors and fragrances in North America,” Givaudan said in a statement.

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Ungerer is present in more than 60 countries, with eight manufacturing units and six research-and-development centers.

“Ungerer’s capabilities and its 650 employees will further extend Givaudan’s market leadership in its core flavor and fragrance activities,” the Swiss fragrance and flavors company said.

“Acquiring Ungerer fits very well with our long-term strategy for our core business in flavors and fragrances,” said Gilles Andrier, chief executive officer of Givaudan. “They have an excellent reputation in the market, thanks to the quality of their specialty ingredients as well as their strong position in the fast-growing local and regional customer segment.

“We have a great respect for the company and are very confident that the acquisition will further enhance our industry leadership, both through the vertical integration into key specialty ingredients for our flavor and fragrance creations, as well as in asserting our leadership with local and regional customers,” Andrier said.

Givaudan is the world’s largest fragrance and flavors maker. The Vernier, Switzerland-based company last year posted sales of 6.2 billion Swiss francs, or $6.31 billion. It does business in more than 180 locations and counts 14,900-plus employees around the globe.

The news of Givaudan and Ungerer’s deal being sealed came less than two weeks after Givaudan said it had become a minority shareholder in Robertet.