Givaudan to acquire Spicetec Flavors & Seasonings from ConAgra for $340m

Givaudan has agreed to purchase Spicetec Flavors & Seasonings from ConAgra Foods for $340m.

Spicetec manufactures a range of flavours, spices and savoury seasoning solutions for customers, primarily in North America.

It has facilities in Omaha, Nebraska; Carol Stream, Illinois; and Cranbury, New Jersey. It employs 280 people.

The deal is expected to add around $185m to Givaudan’s revenue on a full year basis.

Givaudan CEO Gilles Andrier said: "This acquisition fits with our 2020 strategy to expand our offering to deliver integrated solutions where flavour and taste play a key role.

"Spicetec brings complementary capabilities to Givaudan with its strong portfolio of spices, seasoning blends and natural solutions."

Givaudan’s flavour division president Mauricio Graber said: "Combining Givaudan’s leading flavour expertise with Spicetec’s portfolio of products will enable us to deliver a broader range of solutions to our customers in processed meats, savoury retail and foodservice.

"Furthermore, these additional capabilities will help us strengthen the breadth of our industry leading natural ingredients, flavour and taste solutions."

Givaudan plans to use existing resources to fund the acquisition, which is subject to approvals from relevant regulatory authorities.

The transaction is expected to conclude in 60 to 90 days.