French syrup maker Monin has rival company Guiot for an undisclosed sum.

The deal makes Monin the second-largest company in the sector in France behind Teisseire.
The head of Guiot, Bernard Guiot, had been looking for a buyer for the firm ahead of planned retirement in five years. Founded in 1871, the company has its production base near Valenciennes, in northern France and has an annual turnover of EUR12m (US$15.9m).
Monin, whose origins date back to 1912, has its headquarters in Bourges, central France. It is also present in the US through its Florida-based unit, Monin Gourmet Flavorings, which produces premium flavourings for beverage and culinary applications.