Media Release
Geneva, 13 May 2020

Givaudan announces divestiture of processed and grated
cheese business
Givaudan today announced that it has entered into an agreement to divest its processed andgrated cheese business to St. Paul Group, a cheese specialist with premises in Belgium and theNetherlands.
“With the sale of our processed and grated cheese business we aim to strengthen the focus on ourcore business and continue to drive long-term shareholder value,” said Louie D’Amico, President
Flavour Division, Givaudan. “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 asuccessful handover.”
Dieter Kuijl, CEO of St. Paul Group, said: “We are delighted with this transaction as it represents
an attractive opportunity to further build St Paul’s customer base in ready meals, snacks andprocessed food. In addition, St Paul will now also be able to offer a wider range of products andapplications.”
The processed and grated cheese business acquired from Vika BV contributed CHF 13.5 million toGivaudan’s Flavour Division sales in 2019. The terms of the transaction, which has no material
impact on the Division, will not be disclosed.
Givaudan will retain the majority of the legacy Vika BV business acquired in 2017 and continue tooffer cheese powder solutions, vegetable and meat fonds and stocks as part of its natural dairy
and savoury product portfolio.
About Givaudan
Givaudan is the global leader in the creation of flavours and fragrances. In close collaboration withfood, beverage, consumer product and fragrance partners, Givaudan develops tastes and scentsthat delight consumers the world over. With a passion to understand consumers’ preferences and arelentless drive to innovate, Givaudan is at the forefront of creating flavours and fragrances that‘engage your senses’. The Company achieved sales of CHF 6.2 billion in 2019. Headquartered in
Switzerland with local presence in over 180 locations, the Company has over 14,900 employees
worldwide. Givaudan invites you to discover more at www.givaudan.com.

Givaudan International SA, Chemin de la Parfumerie 5, 1214 Vernier, Switzerland
Phone: +41 22 780 91 11, Fax: +41 22 780 91 50, Web: www.givaudan.com

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Geneva, 13 May 2020About Givaudan Flavours
Givaudan’s comprehensive knowledge of local flavours, extensive global footprint and strategic
insights enable close partnerships with customers wherever they may be. With a customised
approach to product creation, the Flavour Division is a powerhouse of knowledge, innovation andcreativity equipped to surprise customers and consumers with fresh, unique ideas and solutions.
Givaudan creates lasting flavour and taste experiences that touch emotions across key segments
including beverages, sweet goods, savoury and snacks; regardless of product category Givaudan’spassion is to make food and beverage products taste delicious. We invite you to ‘engage yoursenses’ and learn more about Flavours at www.givaudan.com/flavours.
About St. Paul
St. Paul Group is a mid-sized family company with sales just above EUR 50 mln. The company is aleading supplier of cheese solutions for the food industry and considers itself a solution driven,innovative, goal-driven and reliable cheese partner for the processed food industry with a strong
focus on Europe but with considerable and growing sales volumes in the rest of the world. Relying
on 8 generations of dairy know-how, St. Paul’s current owner Dieter Kuijl started the production ofcheese solutions in Lokeren (Belgium) in 1985. The Lokeren site still operates as St. Paul’s main
analog cheese production site, but since 2017 the Group’s headquarters as well as its
warehousing, grating and cheese cleaning activities moved to its new location in St Jansteen, theNetherlands. www.st-paul.be/en/

For further information please contact
Pierre Bénaich, Head of Givaudan Investor and Media Relations
T +41 22 780 9053
E pierre.benaich@givaudan.com
Kathleen Maksymec, Head EAME Communications, Flavour Division
T +41 79 211 8337
E kathleen.maksymec@givaudan.com

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