Sunday, May 19, 2024

Glanbia to acquire Flavor Producers for $300m

Glanbia has entered into an agreement with the owners of Flavor Producers to acquire the business for an initial consideration of $300 million plus deferred consideration.

Flavor Producers is a leading flavour platform in the US, providing flavours and extracts to the food and beverage industries, with a focus on organic and natural ingredients. Glanbia will operate Flavor Producers within its Glanbia Nutritionals (GN), Nutritional Solutions business (NS or Nutritional Solutions).

Hugh McGuire, Chief Executive Officer of Glanbia, said: “I am delighted to announce the acquisition of Flavor Producers, which represents an important step in the continued growth of our Nutritional Solutions business.

“This acquisition builds on our existing flavours capability and positions us well to capture long term growth opportunities in the organic and natural flavours segments.

“M&A is an important part of our growth strategy and this transaction represents a further opportunity to scale our NS business, unlock synergies and acquire unique and complementary capabilities.”

The initial consideration is $300 million with an additional deferred payment of up to $55 million, conditional on performance in 2024.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.
















Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close