December 19th, 2017
Givaudan has announced that it has entered into exclusive negotiations to acquire Expressions Parfumées, a French fragrance creation house, as part of its 2020 strategy to expand the capabilities of its fragrance business.
Expressions Parfumées Acquisition
Founded in 1982, Expressions Parfumées is based in Grasse (France), the historic area of perfumery, and also operates throughout Europe, Africa and the Middle East. The company employs about 200 people globally.
As a result of its unique know-how in fragrance creation using their naturals capabilities, Expressions Parfumées is the first perfume composition house to have obtained the French Origin Guaranteed label. Their commitment to valuing the Grasse heritage and know-how as a French company has largely contributed to the success of their business internationally and in particular in categories such as fine fragrances, personal care, and air care.
Natural Fragrance Compounds
As the one of the pioneers of natural fragrance compounds, Expressions Parfumées offers its NATCO® range of perfumes designed to adapt to any production labelled ‘organic’.
Gilles Andrier, CEO of Givaudan said:
“Acquiring Expressions Parfumées will fit nicely with our 2020 strategy to expand our presence with local and regional customers, and grow our capabilities in natural ingredients. Next year marks Givaudan’s 250 years of heritage deeply rooted in Grasse with distinguished perfumery dynasties such as Roure and Chiris. This acquisition will be a wonderful way to come back to our origins in Grasse, a region that has always been close to our hearts and our history.”
Maurizio Volpi, President of Givaudan’s Fragrance Division said:
“Expressions Parfumées will bring to Givaudan a true expertise in managing the fast growing segment of smaller customers. We will also enrich our respective palettes of ingredients, where they will bring additional expertise in naturals while Givaudan will share its large number of exclusive molecules and technologies.”
While terms of the deal will not be disclosed, Expressions Parfumées’ business would have represented approximately EUR 56.6 millions of incremental sales to Givaudan’s results in 2016 on a proforma basis.
Givaudan plans to fund the transaction from existing resources. The transaction is expected to close in the first half of 2018.
Givaudan is a Swiss manufacturer of flavors, fragrances and active cosmetic ingredients. As of 2008, it is the world's largest company in the flavor and fragrance industries. Givaudan seeks to ensure responsible growth and shared success for its shareholders, customers and all key stakeholders. Over the next five years, the Company aims to outperform the market and deliver a continued strong free cash flow.