Givaudan buys dairy flavours

Swiss flavours company Givaudan has signed an agreement to acquire International Bioflavors - a leading US producer of natural cheese and dairy flavours.

In a statement today, Givaudan maintained that IBF was a strategic fit for the company "as it adds new and complementary technologies to Givaudan's rich portfolio and strengthens further Givaudan's market position in savoury flavours".​

In addition to dairy flavours, IBF supplies ingredients for savoury products such as snacks, sauces and soups. Since 1990 the US company - with estimated annual sales of $11.5 million in 2002 - has developed natural, complex type flavourings like cheese, butter and cream. The company later extended its expertise in the application of enzymatic catalysis to the production of dairy and non-dairy building blocks for flavour development.

Givaudan​ will pay US$21 million (€20.5m) in cash.