Givaudan acquires Expressions Parfumées
Global scent and flavour kingpin Givaudan has acquired French fragrance house Expressions Parfumées, taking control from shareholders Orfite and Expressions Parfumées management. The deal was announced as early as January this year, but has finally been concluded, giving Givaudan an increased exposure to the naturals and organics space in fragrance. That’s a key an area of massive focus for fragrance companies at the moment, an one which Givaudan has been eager to see advancements in.
Givaudan’s share price has been trending up this week
SOURCE: Yahoo Finance
The move will see Givaudan add Expressions to its current portfolio, including the NACTO range of perfumes, designed to adapt to any production labelled as “organic”. As such, the company’s CEO, Gilles Andrier, considers it a fundamental part of Givaudan’s 2020 strategy. He told reporters:
“It is a very exciting day for Givaudan as we welcome Expressions Parfumées into the Givaudan family. Their know-how, talent, and capabilities will greatly contribute to our 2020 strategy. This acquisition also marks our return to where it all started 250 years ago, in Grasse, a region that has always been close to our heart and history.”
Maurizio Volpi, president of Givaudan’s Fragrance division, was keen to explain how the new acquisition contributed to the company’s strategy, adding:
“This acquisition is aligned with our ambition to expand our reach to local and regional customers. We are confident that our customers will greatly benefit from our combined companies: Expressions Parfumées will be managed as an independent entity within the Fragrance division, maintaining the brand whilst benefiting from Givaudan’s unique ingredients and sourcing network.”
Dominion holds Givaudan in its Global Trends Managed Fund.
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