Dec 18, 2017
Givaudan to buy French fragrance company Expressions Parfumées
Dec 18, 2017
Givaudan has entered into exclusive negotiations to buy French fragrance developer Expressions Parfumees for an undisclosed sum, the Swiss company said on Monday. It said the acquisition was part of its efforts to grow business in natural products.
Expressions Parfumees' business would have represented approximately 56.6 million euros ($66.57 million) of extra sales to Givaudan's results in 2016 on a proforma basis, Geneva-based Givaudan said.
Givaudan said it plans to fund the transaction from existing resources and expects to complete the deal in the first half of 2018.
In 2016, Givaudan generated sales of 4.7 billion Swiss francs (4 billion euros at current exchange rates), including 2.2 billion Swiss francs in its Fragrances division.
Based in Grasse, Alpes Maritimes, Expressions Parfumées is active throughout Europe, Africa and the Middle East. Founded in 1982, the company employs around 200 people worldwide.
Expressions Parfumées is the first fragrance designer to have obtained the "Origine France Garantie" label, Givaudan said in a press release, and that the French company's commitment to promoting the heritage and expertise of Grasse, the historic home of perfumery, had largely contributed to its success.
"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," said Givaudan CEO Gilles Andrier in the press release. "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."
With additional reporting from AFP
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