Givaudan to buy Quest International

by Grant Osborne, 22 November 2006

Givaudan has signed an agreement with UK-based Imperial Chemical Industries PLC, to acquire its fragrance and flavour business, Quest International for £ 1,200 million (approx US$ 2,277,480,000).

The history of Quest dates back to 1905. It became part of ICI in 1997 through an acquisition from Unilever. The company is headquartered in Naarden, the Netherlands and is a fully owned subsidiary of the ICI Group. Quest is one of the leading players in the global flavour and fragrance market with a turnover of £ 560 million in 2005 and currently employs around 3,400 people.

This acquisition will strengthen Givaudan’s current leadership and accelerate future growth, especially in important markets of Asia Pacific, Latin America, Eastern Europe and Africa andthe Middle East.

The transaction is subject to regulatory approval. It is hoped that completion will take place during the 1st Quarter 2007.

Gilles Andrier, Chief Executive Officer of Givaudan said: “Quest has regained momentum over the last three years thanks to the talent and commitment of its people. Thus, we are very excited to have this unique opportunity of creating an unrivalled industry leader, building on the strength, momentum and common values of both companies.”

In Fragrances, Givaudan will become the global market leader in fine fragrances and consumer products. Furthermore, it will expand the customer base and strengthen its position with existing clients.

Jürg Witmer, Chairman of Givaudan stressed: “Givaudan has traditionally been a driver of industry consolidation by taking advantage of value enhancing acquisition opportunities while still focusing on profitable organic growth.”

Categories: Acquisitions, Raw Materials, Givaudan, Quest International

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