Flavors and fragrance specialists Givaudan is acquiring Dutch enterprise Vika BV in a bid to bolster its portfolio of natural dairy solutions. Vika BV offers a range of natural dairy ingredients, fonds and stocks, as well as meat and plant-based extracts to customers in the food and beverage industry.

Headquartered in the Netherlands, Vika has also facilities in Belgium, the UK, and New Zealand, employing more than 200 employees worldwide.

“Expanding our offering in naturals is a key priority for Givaudan in the context of our 2020 strategy. Vika’s products, technologies and talent will strengthen our existing capabilities and our ability to develop new taste solutions. We are delighted to welcome Vika’s employees to our company and are confident that their industry expertise will accelerate Givaudan’s position with existing and new customers,” says Gilles Andrier, CEO of Givaudan.

The Swiss manufacturer has not disclosed the terms of the deal.

“Savory and dairy are two categories where consumers feel all-natural ingredients are important and it is our aim to keep strengthening our offering in these sectors,” says Mauricio Graber, President of Givaudan’s Flavor Division.

“We look forward to leveraging Vika’s expertise which will complement our own heritage and knowledge in extraction, fermentation and concentration of natural ingredients, opening up new market opportunities for both companies.”

Even though terms of the deal have not been disclosed, Vika’s business would have represented approximately €64 million of incremental sales to Givaudan’s results in 2016 on a proforma basis.

Givaudan plans to fund the transaction from existing resources.

The planned acquisition remains subject to formal approvals from the relevant antitrust authorities and is expected to close in the second half of this year.