Givaudan Acquires Cosmetics Maker Induchem
August 31 2015 - 2:12AM
Dow Jones News
By Neil MacLucas
ZURICH--Givaudan SA (GIVN.VX) said on Monday that it has
acquired Swiss cosmetics ingredient maker Induchem Holding AG to
expand its fragrance sector business.
Geneva-based Givaudan, which supplies flavors to food companies
such as Nestlé SA (NESN.VX), Mondelez International Inc. (MDLZ) and
Unilever NV (UN), declined to disclose financial terms of the deal,
but said it would be financed from existing resources.
Based in Volketswil, Switzerland, and with operations in France
and the U.S., Induchem employs 65 workers. Givaudan said Induchem
would have contributed around 25 million Swiss francs ($26.1
million) in sales to its earnings last year.
Givaudan, which last week lowered its average sales growth
target to 4% to 5%, said it will look at acquisitions as part of
its business strategy for the coming five years.
In its latest results in July, Givaudan said sales from its
fragrance unit were flat in the first six months of 2015 when
currency effects were removed, but fell 1.1% in Swiss franc terms.
The flavors division sales, when denominated in francs, rose 0.4%,
helped by growth in Asia and Latin America.
-Write Neil MacLucas at neil.maclucas@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 31, 2015 01:57 ET (05:57 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
Unilever (NYSE:UL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Unilever (NYSE:UL)
Historical Stock Chart
From Apr 2023 to Apr 2024
