Swiss flavors and fragrances manufacturer Givaudan has struck a deal to purchase New Jersey-based flavor, fragrance, and specialty ingredients firm Ungerer & Company, a November 6 press release announced.
“This acquisition of Ungerer fits very well with our long-term strategy for our core business in flavors and fragrances. 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,” Gilles Andrier, the chief executive officer of Givaudan, said in a statement.
The Givaudan executive said the transaction will enable the vertical integration into ingredients for its flavor and fragrance products and bolster is presence in the local and regional segments. Established more than a century ago, Ungerer operates in over 60 countries and has eight manufacturing plants and six R&D centers.
“We believe that we have a strong set of shared values with Givaudan and that this transaction represents a very positive step for Ungerer’s customers and employees,” the controlling owner of Ungerer, Barbara Voorhees, said in the release. “I know that my late husband Gary Voorhees would be immensely satisfied to see the company that he led with integrity for many years join forces with the industry leader, Givaudan.”
Financial terms of the deal were not disclosed. The company expects the deal to close in the first quarter of next year.