In a bid to bolster its natural dairy solutions flavour and fragrances develop Givaudan is acquiring Vika for an undisclosed amount.
Vika offers a range of natural dairy ingredients, fonds and stocks, as well as meat and plant based extracts to customers in the food and beverage industry.
With headquarters in the Netherlands, Vika has also facilities in Belgium, the UK, and New Zealand, employing globally over 200 employees.
Gilles Andrier, CEO of Givaudan said: “Expanding our offering in naturals is a key priority for Givaudan in the context of our 2020 strategy.
“Vika’s products, technologies and talent will strengthen our existing capabilities and our ability to develop new taste solutions.”
Mauricio Graber, President of Givaudan’s Flavour Division, added: “Savoury and dairy are two categories where consumers feel all-natural ingredients are important and it is our aim to keep strengthening our offering in these sectors.
“We look forward to leveraging Vika’s expertise which will complement our own heritage and knowledge in extraction, fermentation and concentration of natural ingredients, opening up new market opportunities for both companies.”
While terms of the deal have not been disclosed, Vika’s business would have represented approximately €64 million of incremental sales to Givaudan’s results in 2016 on a proforma basis.
The transaction is expected to close in the second half of 2017.