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Firmenich to Acquire Majority Stake in VKL Seasoning to Expand Reach in India
"In a world of increasingly label-conscious consumers, VKL's unique blends of spices, extracts and other natural ingredients will enrich our portfolio of authentic taste profiles to delight Indian consumers," said Gilbert Ghostine , CEO Firmenich. "We are excited to partner with VKL, a leader in the savory and food service space, who bring a demonstrated track record of innovation with both local and international players."
"With Firmenich's excellence in the science of taste, my team and I are excited to build the next chapter of growth for VKL," said Ajay Mariwala, founder of VKL Seasoning Pvt. Ltd. "By combining our strengths, we will be able to serve our customers with renewed focus across the food sector."
Commenting on the deal, Haresh Chawla, Partner, True North said, "VKL Seasonings and True North share the same values, focused on professional management practices, high quality talent and innovative creative systems. VKL's impressive customer base coupled with in-depth knowledge of the local palate, has led to significant growth in the industry. We are confident that the company will reach new heights with Firmenich."
"This joint venture underpins Firmenich's ongoing commitment to India , one of our fastest growing markets," said Satish Rao , Chairman & Managing Director, Firmenich India. "VKL expands our presence in India , while advancing our vision to be the taste and nutrition innovation partner of choice."
VKL Seasoning will retain its brand identity and will operate as a stand-alone business within the company. Financial terms of the deal have not been disclosed.
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