LOKEREN, BELGIUM — St. Paul Group has strengthened its position as a leader in the cheese solutions category with the acquisition of the processed cheese, analog cheese, grated cheese and air-dried cheese businesses of Givaudan/Vika. Financial terms of the transaction were not disclosed.
Family-owned St. Paul has a strong focus on Europe, and the acquisition of the businesses from Givaudan is expected to extend the company’s customer base in ready meals, snacks and processed foods. St. Paul said it also now will be able to offer a wider range of product formats in grated cheese and air dried cheese.
Givaudan acquired the processed and grated cheese business from Vika BV as part of a larger transaction in 2017. Givaudan said it will retain the majority of the Vika legacy business, including cheese powder solutions, vegetable and meat fonds and stocks as part of its natural dairy and savory product portfolio.
“With the sale of our processed and grated cheese business we aim to strengthen the focus on our core business and continue to drive long-term shareholder value,” said Louie D’Amico, president of Givaudan’s Flavor Division. “We truly appreciate the contributions of our processed and grated cheese business employees and look forward to working with the St. Paul team to ensure a successful handover.”