Givaudan, the flavour and fragrances company, is divesting its processed and grated cheese business to strengthen its focus on its core business.
The business has been divested to St. Paul Group, a cheese specialist with premises in Belgium and the Netherlands for an undisclosed amount.
Givaudan will retain the majority of the legacy Vika BV business 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.
“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.
“We truly appreciate the contributions of our processed and grated cheese business employees and look forward to working with the St. Paul team to ensure a successful handover.”
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.”