The European Commission has cleared the GBP1.2bn acquisition of Netherlands-based flavours and fragrances business Quest by Swiss-based Givaudan.
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The deal, the Commission said, does not significantly impede effective competition in the European Economic Area.
Quest and Givaudan both supply flavourings and fragrances for use in processed foods, drinks, cosmetics and perfumes.
The takeover sees Givaudan take a leading position in the European flavours and fragrances market. However, the Commission found Quest and Givaudan are not the closest competitors in this market, meaning that the combined entity would still face competitive pressures from established multinational players and smaller companies.
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