Givaudan has announced that it has acquired Fragrance Oils to strengthen its leading position in the fast-growing local and regional customer market. Terms of the deal were not disclosed but the British fragrance company impact on Givaudan’s results in 2018 would equate to £50 million in incremental sales on a proforma basis.
“The acquisition of Fragrance Oils is another step in expanding our capabilities in serving local and regional customers,” commented Gilles Andrier, CEO of Givaudan. “Following our earlier acquisition of Expressions Parfumées, it fits perfectly with our 2020 ambition to assert our leadership position in this customer segment, as well as leveraging the strong presence of Fragrance Oils in high growth markets. We are delighted to welcome the Fragrance Oils employees into the Givaudan family and are convinced that their know-how, talent and operations capabilities will greatly contribute to our common future success.”
Maurizio Volpi, President of Givaudan’s Fragrance Division added, “Over recent years, we have taken several steps in strengthening our capabilities to serve local and regional customers in the most effective way. Fragrance Oils brings another strong set of capabilities thanks to their focus on operational excellence as well as their presence in key geographies such as the UK, Africa and South-East Asia.”
Martin Potts, CEO of Fragrance Oils said, “Givaudan is a business that we have always held in the highest regard. We share a passion for creative flair, operational excellence and the importance that we place on our people to support our customer’s requirements in an increasingly agile market place. Fragrance Oils has a proud past and as part of the Givaudan family, we look forward to building on this legacy as part of the visionary 2020 strategy. “