MILAN — Swiss fragrance and flavors supplier Givaudan said Thursday it will acquire French biotechnology company Alderys. Financial terms of the deal were not disclosed, but Givaudan said in a statement it plans to fund the transaction from existing resources.
The acquisition, which remains subject to formal approvals from the relevant regulatory authorities and is expected to be finalized in the second quarter, is aimed at strengthening the Swiss company’s long-term strategy to expand its capabilities in bio-engineering technologies.
Founded in 2009 by Dominique Thomas and headquartered in Orsay, Alderys develops innovative approaches to the biological engineering of valuable compounds from renewable plant resources. The projects developed by the firm are aimed at the chemical and cosmetics industries, as well as nutrition, and are recognized for offering technological industrial solutions with high sustainability standards. The company employs 30 people.
“The acquisition of Alderys aligns with our long-term strategy for Active Beauty and more specifically, their expertise in biotechnology is fully complementary to our Fragrance and Active Beauty businesses,” said Maurizio Volpi, president of Givaudan’s fragrance division. In particular, the company’s Active Beauty business offers an extensive portfolio of innovative active cosmetic ingredients delivering a range of benefits such as antiaging, self-tanning, soothing, hydrating and cooling properties, among others.
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According to Volpi, the operation will therefore “allow us to expand our portfolio of natural and bio-sourced products, thanks to their strong research and development bio-engineering platform,” drive future development and innovation and reinforce “Givaudan’s capabilities to support our customers in developing sustainable, performing and safe products.”
“Alderys has a strong track record in designing innovative biological pathways to produce environmentally friendly raw materials, which is essential to the way we develop our cosmetic ingredients,” added Laurent Bourdeau, head of Givaudan’s Active Beauty business, which is part of the company’s fragrance division.
Thomas also sees in the deal “a great opportunity to expand our scientific expertise to the service of the beauty, fragrance and flavor industry, whilst we will continue to serve our other historical and future partners.”
Givaudan said Alderys’ business would have represented 3 million euros of incremental revenues to its results in 2019 on a pro-forma basis. Last year, the Swiss company registered sales of sales of 6.2 billion Swiss francs, or $6.4 billion.
As reported, last year Givaudan completed other similar deals, acquiring the cosmetic businesses of Italian company Indena, specialized in the identification, development and production of high-quality active ingredients derived from plants, and of AMSilk, a German industrial supplier of vegan silk biopolymers.