Givaudan announces divestiture of processed cheese business

Givaudan announced on May 13 on its official website that it will divest the processed cheese and cheese shredding business.

  Givaudan has reached an agreement with St. Paul Group, a multinational cheese manufacturer in Belgium and the Netherlands, to divest the aforementioned business from the latter.

  Louie D’ Amico, President of Givaudan ’s Food Flavors Division, said: “We sell processed cheese and shredded cheese business to strengthen our focus on our core business and continue to create long-term value for shareholders.

  Processed cheese and shredded cheese are part of the business of Dutch raw material supplier Vika BV acquired by Givaudan in 2017. In 2019, this business segment contributed 13.5 million Swiss francs in sales to Givaudan's flavors division. Although the terms of this divestiture will not be disclosed, Givaudan said it will not have a substantial impact on its departments.

  Givaudan will retain most of Vika BV's business and continue to provide cheese powder solutions and vegetable broth in its natural dairy and savory product portfolio.