Swiss food flavour producer Givaudan Flavors has acquired US-based International Bioflavors (IBF), a producer of natural dairy flavours, for US$21m in cash.

Givaudan sees IBF’s business and expertise as a strategic fit for its own company, aiming to add new and complementary technologies to its portfolio with the acquisition, and also to strengthen Givaudan’s savoury flavour position.

IBF was incorporated in 1990 for the purpose of developing natural, complex dairy flavourings concentrated through fermentation in an expedited fashion. The company has extended its expertise in the application of enzymatic catalysis to the production of unique dairy and non-dairy building blocks for flavour development.

Givaudan said that the acquisition of IBF provides the company with an improved position in dairy and cheese products and technologies. With flavour operations in over 40 countries around the world, Givaudan said it is well positioned strategically and operationally to leverage and expand IBF’s technologies and products in major markets that have been untapped to date.