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SOZIO MERGES WITH PHOENIX FRAGRANCES

March 16, 2021
March 16, 2021
William Bout via Unsplash

Sozio, a company specialized in the creation and production of fragrance compositions, announced a merger with Phoenix Fragrances.

WHO: Phoenix is a family company founded in 1987 by Tony Dallimore and Alan Parry that makes fragrances based on natural ingredients. The company develops and manufactures fragrance compositions primarily for personal care and home fragrance applications, but also has expertise in fine and household application.

Sozio, a French family-owned company founded in Grasse in 1758, specializes in the creation and production of fragrance compositions. Under the umbrella of Proxis Development Group, the business continues its international growth and reinforces its position as an industry leader. The company had sales of over 50 million euros in 2020 with a 9% increase over the previous year.

WHY: Phoenix Fragrances’ business is very complementary to Sozio, and will reinforce Sozio’s position in the fragrance industry and allow Phoenix to boost its development efforts. Through the sharing of resources and a common focus on their markets, Sozio will strengthen its natural fragrance expertise and will reinforce its presence in the UK market.

IN THEIR OWN WORDS: Frederic Braud, general manager of Sozio, said, “Phoenix Fragrances’ integration fits in perfectly with our strategic plan and confirms our determination to accelerate our growth [in] the UK market. We will also expand our activities in the natural perfumery market and reduce our costs through various synergies in purchasing and IT activities. We will boost investment in Phoenix’s R&D laboratories and Production site to help the company to sustain its growth.”

Tony Dallimore and Alan Parry, owners of Phoenix Fragrances, added, “Based on its continuous growth, we felt the need to seek the support of a larger enterprise. It was clear from the very first meetings that there was a high degree of mutual empathy and understanding built around similar philosophies and a dedication to moving the respective business forward.”

DETAILS:

  • Sozio merges with Phoenix Fragrances. The terms of the transaction was not released.
  • Phoenix boasted sales of around £8MM in 2020 with a 15% increase over the previous year; 85% of the sales were directly or indirectly generated in the UK, but the company is expanding in several markets in Europe and overseas.
  • Due to the brand awareness of Phoenix Fragrances in the UK market the brand will be kept separate from Sozio.
  • Dallimore and Parry will continue to lead the Management of Phoenix Fragrances, with input and assistance of the management team from Proxis Group and Sozio, as well as the operational teams from France.
  • Sozio acquired Scentessence in early March 2021.
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