While transactions in the niche fragrance category have slowed, Givaudan closes the year entering into exclusive negotiations to acquire Expressions Parfumées.
WHO: Expressions Parfumées was launched in 1982 and is based in the historic home of scent, Grasse, France. The business is committed to using natural ingredients in the creation of their scents, resulting in a unique know-how in the capacities of naturals, and is the first fragrance house to obtain the French Origin Guaranteed label.
The brand has distribution throughout Europe, Africa, and the Middle East.
Givaudan is based in Vernier, Switzerland, and is the largest fragrance and flavors supplier in the world. Currently present in all major markets, Givaudan strives to deliver fragrances for personal, home, and laundry care, as well as prestige perfumes. Customers benefit from Givaudan’s expertise in three business areas: Fine Fragrances, Consumer Products, and Fragrance and Cosmetic Ingredients.
WHY: This transaction is in line with Givaudan’s 2020 strategy to expand the capabilities of its fragrance business.
IN THEIR OWN WORDS: Gilles Andrier, CEO of Givaudan, said in a release, “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 in the same release, “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.”
- Terms of the deal will not be disclosed.
- Expressions Parfumées’ business would have represented approximately EUR 56.6 million of incremental sales to Givaudan’s results in 2016 on a pro forma basis.
- Givaudan plans to fund the transaction from existing resources.
- The transaction is expected to close in the first half of 2018.
Photo: via Expressions Parfumées website