Danish sugar and ingredients group Danisco is reported to be considering making a pitch for Quest, the flavour and fragrance division of Imperial Chemicals Industries (ICI) of the UK.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Danisco has already stated that it is conducting a study of all potential takeover candidates in the area of enzymes and flavours, and has made it known it has a war chest of some €10bn (US$1.098bn) to invest in expanding its core operations.
Late March this year ICI said that a drop in sales and a rise in raw material costs would result in a 24% year-on-year decline in profits at Quest to £50m ($50m). This prompted speculation that Quest could become a takeover target, reported Jyllands-Posten.
