PARIS — Digging deeper into its Grassois heritage and building on its naturals business, Givaudan has entered into exclusive talks to acquire fragrance creation house Expressions Parfumées.
Terms of the deal were not disclosed, but Givaudan said it plans to back the transaction, which is expected to close in the first half of 2018, with existing resources.
The company also said the Expressions Parfumées business would have contributed about 56.6 million euros of incremental sales to 2016 results on a pro forma basis.
Expressions Parfumées was founded in 1982 and is based in Grasse, France, which is considered the birthplace of modern perfumery. The company has operations throughout Europe, Africa and the Middle East, with an employee count of about 200 people worldwide.
Givaudan said Monday that the acquisition of “the pioneer of natural fragrance compounds” is part of a strategy to broaden the capabilities of its fragrance business and expand its presence with local and regional customers.
“Next year marks Givaudan’s 250 years of heritage deeply rooted in Grasse with distinguished perfumery dynasties such as Roure and Chiris,” said Gilles Andrier, Givaudan’s chief executive officer, adding the acquisition is a good way to return to the company’s Grassois origins.
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“Expressions Parfumées will bring to Givaudan a true expertise in managing the fast-growing segment of smaller customers,” continued Maurizio Volpi, president of Givaudan’s fragrance division. “We will also enrich our respective palettes of ingredients, where they will bring additional expertise in naturals, while Givaudan will share its large number of exclusive molecules and technologies.”
Expressions Parfumées was the first perfume composition house to obtain the French Origin Guaranteed label. Givaudan said the company’s commitment to valuing its Grassois heritage and savoir-faire as a French company have bolstered its renown, especially in segments such as fine fragrances, personal care and air care.
Givaudan highlighted, as well, that Expressions Parfumées offers its NATCO trademarked range of fragrances that is designed to be used in any “organic” production.