Fragrance and flavors supplier Firmenich has agreed the acquisition of a 17 percent stake in French natural ingredients producer Robertet.
Having made a deal with First Eagle Investment Management to purchase the Robertet stake held by its advisory client, Firmenich is branching further into the naturals market with the acquisition.
The deal has been made at a price of €683.30 a share.
Firmenich, Chairman of the Board of Firmenich, said, “Firmenich has the
greatest respect for Robertet, with its family values, long term vision of the
industry and leading capabilities in natural ingredients.
“As a long-term oriented shareholder, this investment reflects Firmenich’s commitment to best support Robertet’s continued growth.”
According to a press release, Firmenich is looking to be a passive long-term shareholder alongside the Maubert family, is open to ‘friendly’ discussion for a larger participation or broader collaboration.