The French fragrance creation house will contribute to Givaudan's 2020 strategy
Givaudan, the global leader in flavours and fragrances, today announced it has completed the acquisition of Expressions Parfumées, a French fragrance creation house, from its current shareholders, Orfite and Expressions Parfumées’ management.
Givaudan had entered in exclusive negotiations to acquire Expressions Parfumées in December 2017.
Gilles Andrier, CEO of Givaudan said: “It is a very exciting day for Givaudan as we welcome Expressions Parfumées into the Givaudan family.
"Their know-how, talent, and capabilities will greatly contribute to our 2020 strategy.
"This acquisition also marks our return to where it all started 250 years ago, in Grasse, a region that has always been close to our heart and history.”
Jacques Lions, CEO of Expression Parfumées said: “Joining Givaudan, the leader in the market, is a unique opportunity for Expressions Parfumées to take our business to new heights.
"We have a true complementarity, and both companies will benefit from each other to achieve our common ambition which is to create the winning fragrances of tomorrow.
"This opens a new era for our company after having experienced a long-term solid and highly valuable shareholding partnership between Orfite and Expressions Parfumées.”
Maurizio Volpi, President of Givaudan’s Fragrance Division said: “This acquisition is aligned with our ambition to expand our reach to local and regional customers.
"We are confident that our customers will greatly benefit from our combined companies: Expressions Parfumées will be managed as an independent entity within the Fragrance Division, maintaining the brand whilst benefiting from Givaudan's unique ingredients and sourcing network.”
While terms of the deal have not been disclosed, Expressions Parfumées’ business would have represented approximately €62.6m of incremental sales to Givaudan’s results in 2017 on a proforma basis. Givaudan has funded the transaction from existing resources.
Founded in Grasse in 1982, Expressions Parfumées is a pioneer of natural fragrance compounds and offers its NATCO range of perfumes designed to adapt to any production labelled ‘organic’.