Givaudan, the global leader in flavors and fragrances, announced that it is acquiring German fragrance house Drom to further extend its leadership in the global fragrance market.
WHO: Drom Fragrances is a global perfume house founded in 1911 and headquartered in Munich, Germany, with a heritage of more than 100 years as a pure fragrance company. From its roots as a family business, it has become a global company with a strong focus on creativity and quality serving a broad range of customers in consumer products and in fine fragrances. Drom has 489 employees around the world with four production sites in Germany, China, USA, and Brazil, all equipped with the latest compounding automation technologies.
Givaudan is the global leader in the creation of flavors and fragrances, developing tastes and scents. The company achieved sales of CHF 5.5 billion in 2018. Headquartered in Switzerland with local presence in over 145 locations, the company has almost 13,600 employees worldwide
IN THEIR OWN WORDS: Gilles Andrier, CEO of Givaudan, said in a statement, “The acquisition of Drom is very exciting for Givaudan as it further asserts our leadership position in the Fragrance market globally and is fully in line with our strategic ambitions. Like Givaudan, Drom has a long heritage in fragrance creation and their capabilities and strong culture will fit perfectly with ours. We look forward to welcoming Drom’s employees to Givaudan and are confident that our combined capabilities will deliver a compelling valuable proposition for our customers across segments and in key markets.”
Maurizio Volpi, President of Givaudan’s Fragrance Division, said in a statement, “Drom is a much respected international fragrance house that has developed a strong customer base, in particular with local and regional customers, thanks to their creativity and excellent service levels. The complementary nature of both businesses will further enhance our capabilities in serving customers across all segments and geographies.”
Ferdinand and Andreas Storp, co-owners and Presidents of Drom, said in a statement, “We are very excited to have Givaudan as the new home for Drom. We are convinced that the combination with Givaudan represents an outstanding strategic fit and will allow Drom to further expand its customer reach and geographical footprint going forward.”
- Terms of the deal have not been disclosed.
- Drom’s business would have represented approximately EUR 110 million of incremental sales to Givaudan’s results in 2018 on a pro forma basis.
- Givaudan plans to fund the transaction from existing resources.
Photo: Gemma Evans vis Unsplash