06 Feb 2018 --- Further to the announcement in December 2017, Firmenich has confirmed that it has successfully completed the acquisition of Flavourome, an established flavors company in South Africa.
At the time of the announcement, the transaction was subject to clearance by the relevant regulatory authorities (including the Competition Commission) and was expected to close by March 2018.
With this acquisition, Firmenich is expanding its presence in Africa with access to new customers as well as a high-performing manufacturing facility in South Africa.
“We are pleased to formally welcome the Flavourome team into the Firmenich Group,” says Patrick Firmenich, Chairman of the Board, Firmenich. “Building on over 30 years of business presence in South Africa, today’s acquisition firmly anchors our vision to grow in this key region”.
“The Sub-Saharan Africa region, with its population of 800 million, represents a strategic growth market for Firmenich,” said Gilbert Ghostine, CEO, Firmenich. “This milestone confirms our commitment to shaping winning solutions for our customers in South Africa and beyond.”
Speaking to FoodIngredientsFirst, Thoger Larsen, VP Firmenich Flavors for India, Middle East & Africa said: “South Africa has a thriving F&B industry that is unique in both consumer profiles and preferences. At the same time the market is seeing increased dynamics in all aspects of the trade, from new product development to supply patterns at the end consumer level, which requires a local end-to-end presence as a flavor house.”
“The South African market has been a key market for Firmenich for decades and with the growth perspectives of not only South Africa, but of the sub Saharan region as a whole, an investment into our supply chain presence is a logical next step in order to bring products and services closer to our customers,” he explains.
Late last year, Firmenich tipped fig as their "flavor of the year" for 2018.
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