PARIS — Givaudan said Monday that it has acquired Induchem Holding AG, an active cosmetic ingredients business.
Terms of the deal were not disclosed, but Givaudan said Induchem’s business would have represented in 2014 about 25 million Swiss francs, or $27.4 million at average exchange, of incremental sales to its results on a proforma basis.
As reported, the Vernier, Switzerland-based flavors and fragrance supplier last year posted sales of 4.04 billion Swiss francs, or $4.42 billion.
Givaudan will fund the purchase of Induchem with existing resources.
Along with a wide range of active ingredients, Induchem has research expertise in biocatalysis, metagenomics and biochemical synthesis. The Zurich-headquartered company operates mostly out of Volketswil, Switzerland; Toulouse, France, and New York. It employs 65 people.
“Induchem is a second key step, after the acquisition of Soliance, towards our ambition to make Givaudan a significant player in the active cosmetic business,” stated Gilles Andrier, chief executive officer of the company. “Induchem brings strong complementary capabilities to Givaudan and will greatly contribute in achieving our 2020 ambition to become a key player in this fast-growing business.”
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The company last week said it targets average organic sales growth of 4 percent to 5 percent for the next five years and average free cash flow of 12 percent to 17 percent of sales in the period.