Naturex Acquired by Givaudan


An Orrick Paris team advised Naturex on its combination with Givaudan, a Swiss flavor and fragrance maker. France-based Naturex is a global leader in natural specialty ingredients for the food, health and cosmetic industries. The deal aims to create a new global leader in natural extracts and ingredients.

Givaudan will first acquire 40.6% of Naturex’s shares, then launch a cash tender offer for the remaining outstanding shares in a deal that could rise to $1.6 billion. Naturex CEO Olivier Rigaud said: “This combination is supported by a strong strategic rationale with an ambition to become the leader in natural ingredients. We are proud to become part of Givaudan and leverage the complementary capabilities for our customers.”

Our Paris-based team advising Naturex includes George Rigo, Alexis Marraud des Grottes, Julien Beloeil, Dimitrie Ramniceanu and Nour Ksibi on corporate aspects; Patrick Hubert and Marie-Laure Combet on competition aspects; Noël Chahid-Nouraï and Quirec de Kersauson on regulatory matters; Anne-Sophie Kerfant on tax matters; and Emmanuel Benard and Chek-Lhy Luu on employment law aspects.