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Article: ICI announces sale of Quest to Givaudan.(EVOLUTION)(Imperial Chemical Industries PLC, Quest International Inc. acquisitions)(Brief article)

Article from:
Food Trade Review
Article date:
January 1, 2007
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ICI has reached an agreement to sell Quest, its flavours and fragrance business, to Givaudan for 1,200 million [pounds sterling].

Subject to approval by ICI shareholders, regulatory approval and employee consultation, it is hoped that completion will take place during Quarter 1,2007.

Under ICI's ownership, Quest achieved its aim to improve operating performance through delivering growth and margin enhancement in the medium-term. The consideration obtained by ICI reflects the strategic value of the business as a leading player in an attractive industry, as well as the expected performance improvement.

Commenting on the sale Charles Knott Chief ...

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