Givaudan, a global leader for flavors and fragrances, has recently entered into an agreement to divest its processed and grated cheese business to St. Paul Group, a cheese specialist with premises in Belgium and the Netherlands.
“With the sale of our processed and grated cheese business, we aim to strengthen the focus on our core business and continue to drive long-term shareholder value,” said Louie D’Amico, President Flavour Division, Givaudan. Dieter Kuijl, CEO of St. Paul Group said, “We are delighted with this transaction as it represents an attractive opportunity to further build St Paul’s customer base in ready meals, snacks and processed food. In addition, St Paul will now also be able to offer a wider range of products and applications.” The processed and grated cheese business acquired from Vika BV contributed CHF 13.5 million (US$13.9 million) to Givaudan’s Flavour Division sales in 2019.
Givaudan will continue to retain the majority of the Vika BV business it acquired in 2017 and continue to offer cheese powder solutions, vegetable and meat fonds and stocks as part of its natural dairy and savoury product portfolio.
Swiss-based Givaudan has presence in more than 180 locations with sales exceeding CHF 6.2 billion (US$6.38 billion) in 2019.
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Givaudan Singapore Pte Ltd
