Cargill selling its global juice cold blends and compounds business to Switzerland-based Wild Flavors GmbH; financial terms not disclosed
ZUG, Switzerland and AMSTERDAM
April 17, 2012
– WILD Flavors GmbH has signed an agreement with Cargill to acquire their global juice cold blends and compounds business to strengthen its position as a leading natural ingredients company for the food and beverage industry. The acquisition will provide WILD with over USD 200 million in additional annual sales and three ocean-access tank farms in the strategic growth areas of Asia, Europe and North America. The transaction is subject to antitrust approvals.
Cargill’s juice cold blends and compounds business is a worldwide leading provider of tailor-made juice blends and compounds for high-fruit content beverages as well as juice concentrates. It operates a global network of production and state-of-the-art tank and storage facilities. They are located in Amsterdam, The Netherlands, Port Elizabeth in the U.S and in Chiba and Kashima in Japan. These locations will be important assets to support WILD Flavors’ ambitious global growth strategy.
“This acquisition is a key step to continually grow a differentiated and integrated supply chain for juices to the benefit of our customers. Cargill’s business will provide improved raw material access while strengthening our existing juice capabilities,” said Michael Ponder, CEO of WILD Flavors GmbH. “By broadening our product offering and by providing a truly global supply chain, our customers will profit from WILD Flavor’s unique full-solution approach as the single source of supply for every ingredient needed to produce a high-quality, finished beverage product.”
Paul Naar, Head of Cargill’s food ingredients businesses in Europe commented: “Cargill is selling 35 years of experience in the global juice based beverage industry, where it built a strong position in local sourcing, supply chain management, application know-how and reliable, food safe, production.” Naar continued: “combining with WILD will lead to a bigger scale and add even more capabilities which will create new opportunities for customers.”
About WILD Flavors GmbH
Headquartered in Zug, Switzerland, WILD Flavors GmbH is one of the leading natural ingredients company’s servicing the global food and beverage industry. It uniquely combines an 80-year heritage and knowledge in natural flavors, colors, ingredients and flavor systems with a presence of sophisticated creation, application and manufacturing sites in Europe, the Middle East, North America and Asia. For more information about WILD Flavors, please visit www.wild.de or www.wildflavors.com
Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 139,000 people in 65 countries. Cargill helps customers succeed through collaboration and innovation, and is committed to applying its global knowledge and experience to help meet economic, environmental and social challenges wherever it does business. For more information, visit www.cargill.com and www.cargill.com/news/index.jsp. Contacts WILD Flavors GmbH Stefanie Weitz Head of Investor Relations and Group Communication T +41 41 768 9510 E email@example.com Cargill Corinne Holtshausen T +44 1932 861 174 E Corinne_Holtshausen@Cargill.com