PARIS — In a move to boost its natural ingredient palette for perfumers, at a time when consumer demand for natural and sustainable fragrance products is growing, Givaudan said Friday it has entered into exclusive talks to acquire Albert Vieille SAS.
Based in Vallauris, France, near Grasse, Albert Vieille was founded in 1920 and has an in-depth knowledge of aromatic plants. It specializes in pure essential oils and specialty natural ingredients, which are used in perfumes and aromatherapy products.
The company, which sources raw materials around the globe, has more than 50 employees and owns a manufacturing unit in Spain. Albert Vieille’s products are sold worldwide via distributors.
The acquisition fits into the Swiss fragrance and flavors supplier’s 2020 strategy to enrich its palette with novel in-house natural ingredients for its perfumers, Gilles Andrier, chief executive officer of Givaudan, said in a statement.
“This acquisition will also allow us to enter the market of essential oils for aromatherapy, which will contribute to our 2020 strategy for ‘health and well-being.’ It is another step in reinforcing our presence in Grasse, where the perfumery know-how has recently been awarded World Heritage Status by UNESCO,” he said.
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Givaudan, which did not disclose terms of the deal that will be funded by existing resources, said Albert Vieille’s business would have represented about 30 million euros of incremental sales to its results in 2017 on a pro-forma basis. Last year, Givaudan registered sales of 5.1 billion Swiss francs, or $5.1 billion.
The transaction is expected to close in the first quarter of next year.