Givaudan SA, a Swiss fragrance and flavor producer, is considering entering the pet food market, potentially via acquisitions, in a bid to take advantage of a fast-growing sector, according to reports.
The company's CEO, Gilles Andrier, said in an interview that the pet food space has had "spectacular growth" and has benefited its rivals, Symrise AG and Nestle SA, which both have a significant pet food presence.
An acquisition of a pet food ingredients manufacturer could help give Givaudan “a foot in the space, a starting point,” Andrier said. He noted, however, that it can be hard to find the right targets in a highly competitive market.
Givaudan makes various ingredients and scents that are used in a wide range of household and personal care products, as well as food. The US$47 billion group’s skin cream and makeup division, which has been expanding through acquisitions as well as organically, provides components such as antioxidants, surfactants and oils used by large cosmetic companies, including L’Oreal SA.
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