Univar (UNVR) Boosts Food Ingredients Portfolio With CFS Deal
Univar Solutions Inc. UNVR has announced that it has become an authorized distributor in the United States and Canada for Camlin Fine Sciences Ltd.'s (“CFS”) aroma ingredients. The new agreement will enable Univar to bring CFS' products to market in a region where supply has historically been inadequate.
Food brands of all sizes count on Foodology by Univar Solutions for guidance with product development challenges that encompass specialty ingredient innovation to recipe testing. The organization's highly skilled in-house scientists modify and develop formulations to boost the efficacy of products through its food Solution centers and test kitchens while working toward the company's goal of keeping people healthy, fed, clean and safe.
The adorr vanillin range is now available to all mutual customers. CFS' fully integrated plant, supported by efficient technology and locally obtained raw materials, provides the manufacture of vanillin with excellent traceability and stability, ensuring a consistent supply for customers. The adorr vanillin line additionally provides a rich sensory profile, extending its suitability for a variety of applications to incense and animal feed while improving its adaptability for other uses. Aroma ingredients like vanillin play a crucial part in imparting flavor profiles, enabling businesses to create pleasing sensory experiences for their customers.
Shares of UNVR have gained 44.6% over the past year compared with a 10.1% rise of its industry.
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Univar entered into a definitive agreement to be acquired by Apollo Funds for approximately $8.1 billion in an all-cash transaction in March 2023. UNVR’s shareholders will receive $36.15 per share in cash for every share of the company’s common stock under the deal terms.
The acquisition has received approval from Univar shareholders. It has also secured antitrust regulatory approvals from the United States, Brazil, Canada, China, the EU and Mexico, along with foreign direct investment approval from Italy. Regulatory approvals are pending in Turkey. Foreign direct investment approvals from the United States (Committee on Foreign Investment), France and Spain are also needed. Univar expects the transaction to close in the third quarter of 2023, subject to the fulfillment of all necessary conditions.
Univar Solutions Inc. Price and Consensus
Univar Solutions Inc. price-consensus-chart | Univar Solutions Inc. Quote
Zacks Rank & Key Picks
Univar currently carries a Zacks Rank #3 (Hold).
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