The deal is expected to expand Givaudan’s portfolio of environmentally friendly cosmetic and perfumery ingredients
Flavour and fragrance company Givaudan has completed its acquisition of Alderys, a move it says will boost its development of natural and bio-sourced products.
The 30-person company, based in Orsay, France, specialises in the biological engineering of valuable compounds from renewable feedstock, with projects supporting the chemical and cosmetics industries, as well as nutrition.
While terms of the deal, first announced in May, have not been disclosed, Alderys’ business would have represented €3m of incremental revenues to Givaudan’s results in 2019 on a pro-forma basis.
The President of Givaudan’s Fragrance Division, Maurizio Volpi, noted that Alderys’ expertise would “be an additional tool to drive our future development and innovation in the active cosmetic ingredients space and beyond”.
“It will also reinforce Givaudan’s capabilities to support our customers in developing sustainable, performant and safe products,” he added.
“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,” said Laurent Bourdeau, Head of Givaudan’s Active Beauty Business.
“With specific scientific programmes dedicated to Active Beauty, we are very excited by the capabilities of Alderys to support us in enriching our offer to our customers.”
Dominique Thomas, CEO of Alderys, added: “We strongly believe this is a great opportunity to expand our scientific expertise to the service of the beauty, fragrance and flavour industry.”
Givaudan is said to have funded the transaction from existing resources.