In a bid to strengthen the competitiveness of its Fine Fragrance division, global supplier Symrise has acquired fragrance houses SFA Romani and Groupe Neroli, both of which are based in Grasse, France. The acquisitions will enable Symrise to increase its access to natural ingredients. The terms of the deal were not disclosed.
“With the transactions, we increase our access to high-quality natural ingredients, expand our customer base and strengthen our competitiveness through greater agility as well as a significantly enlarged fine fragrance team in the historical birthplace of perfumery in Europe, Pays de Grasse,” said Ricardo Omori, global senior vice president, fine fragrance, Symrise AG.
The transactions are expected to close in the second quarter and the company said this will allow Symrise to fortify its presence in critical European, African and Middle Eastern regions.
SFA Romani was founded in 1963, while Groupe Neroli was formed in 2017 by the merger of the perfume houses Creations & Parfums and Floressence, which were each founded in the ’80s.
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“Joining Symrise is a unique opportunity for SFA Romani to take our business to new heights,” said Viviane and Charles Romani-Caruso, founders of Romani, in a statement. “We complement each other very well and both companies will benefit from each other to achieve our common goal, which is to create the successful fine fragrances of tomorrow.”
“We are very pleased about the offer to join such an important Group as Symrise. Customers and employees of Neroli will be in very good hands which will be most important for me,” echoed Christian Dussoullier, chief executive officer of Neroli group.
Last November, Symrise and Groupe Neroli entered a joint venture to partner with local farmers to implement sustainable flower cultivation practices and create a sustainable and technologically advanced factory in the Grasse region. Now that Symrise has fully acquired Groupe Neroli, the company will continue efforts to address sustainability in perfumery.
“These two acquisitions represent another step forward for Symrise’s fine fragrance business and are fully in line with our strategic objective to accelerate our growth in this business area,” Omori said.
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