Irish group has reached an agreement with Aroma Holding Company, which owns the Californian company
Listed Irish food group Glanbia is to acquire US-based peer Flavor Producers for an initial $300 million , the listed company announced on Monday.
It also has a net debt to adjusted earnings before interest, taxes, depreciation, and amortisation ratio of 0.5 times and $1.3 billion of committed debt facilities. The company’s current €100 million buyback programme announced on February 28th is ongoing and is unaffected by the deal. Glanbia will operate Flavor Producers within its Glanbia Nutritionals, Nutritional Solutions business.
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