Givaudan exercised the option to acquire a controlling stake in b.kolor after taking a 25% stake in the innovative Italian manufacturer in 2021.WHO: Founded in 2000 by Maria-Teresa Sancini and Mario De Luigi, b.kolor is headquartered near Milan, Italy, and employs more than 300 people. The company is recognized as expert in creative formulation design and the production of finished products for B2B customers, focusing on innovation and sensory benefits allied to state-of-the-art technical performance. b.kolor's value chain covers the entire creation process from the customer's brief until the ready-to-commercialize product, leveraging two modern GMP-qualified factories located in Treviglio. They serve a broad portfolio of customers, but 90% of their sales are out of Italy.Givaudan is a leading global company in taste and well-being, as well as fragrance and beauty. With a heritage stretching back over 250 years, the company has a long history of innovating scents and tastes. In 2023, Givaudan employed 16,260 people worldwide and achieved CHF 6.9 billion in sales with a free cash flow of 13.3%.WHY: In line with its 2025 strategy to expand its presence in the beauty categories, Givaudan acquired a 25% stake in b.kolor in 2021 and exercised the option to acquire a controlling stake in the business. With the company already having a strong leadership position in fine fragrances and haircare, this transaction expands Givadaun's exposure to the makeup category.IN THEIR OWN WORDS: “After three years of successful partnership with b.kolor, this is a great achievement for Givaudan to complete this acquisition, promising a very exciting journey.