PARIS — Givaudan said it has completed the acquisition of Soliance, a cosmetics ingredients supplier, and its subsidiaries.
The Swiss flavors and fragrance supplier had said in February that it was in exclusive negotiations with Agro Industrie Recherches & Développements (ARD) to acquire the French company.
According to Givaudan, the deal will strengthen its process development and research capabilities. It is to build on the company’s active cosmetic ingredients business and enhance its current portfolio offering.
Financial terms were not disclosed, but Givaudan had said it planned to fund the transaction with existing resources.
As reported, Soliance’s operations last year would have incrementally added to Givaudan’s sales about 25 million Swiss francs, or $27.7 million at average exchange for the 12-month period. Givaudan’s 2013 revenues were 4.37 billion Swiss francs, or $4.72 billion.
Soliance “develops high added-value active ingredients derived from vegetable sources, microorganisms and microalgae,” Givaudan noted.
Soliance’s two sites are in Pomacle and Ile Grande, France. It has 96 employees.