Roche Holding to Purchase Tastemaker

Swiss pharmaceutical company Roche Holding agreed to acquire Tastemaker, an international manufacturer of food flavorings, from two U.S. chemical companies in a deal worth about $1.1 billion. St. Louis-based Mallinckrodt Inc., which also makes drugs and other medical products, and Hercules Inc. of Wilmington, Del., each said they expect to net $550 million from the transaction. Tastemaker, a Cincinnati-based company that makes flavoring and citrus specialties used in foods and beverages, has about 1,280 employees worldwide. It had 1996 sales of about $320 million. Roche said Tastemaker will be a strategic fit with its Givaudan-Roure unit, an international fragrances, flavors and aroma chemicals business.