Givaudan to acquire Expressions Parfumées
Global scent and flavor kingpin Givaudan, the company behind the vast majority of things we smell and taste every day, is pushing further into the “organic scents” industry. The Swiss market leader has announced that it is acquiring French fragrance creation house Expressions Parfumées, a company known for its focus on natural fragrances. Founded in 1982, Expressions Parfumées is the first perfume company to have obtained the French Origin Guaranteed label, and is a pioneer in the use of natural and organic fragrance compounds.
Givaudan’s share price has risen by 21% over the last 12 months
SOURCE: Yahoo Finance
Gilles Andrier, Givaudan’s CEO, explained: “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.”
The transaction, which is expected to close in the first half of this year, will give Givaudan greater expertise in one of the fastest growing segments of the market. As healthier lifestyles and a focus on environmental responsibility come to the fore, businesses are increasingly focused on providing the kind of organic, planet-and-people friendly products that consumers are asking for.
Maurizio Volpi, president of Givaudan’s fragrance division added: “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.”
Dominion holds Givaudan in its Global Trends Managed Fund.
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