The acquisition of Expressions Parfumées means Givaudan takes control of the fragrance house from shareholders Orfite and Expressions Parfumées' management.
Expressions Parfumées boasts a strong profile in the naturals and organics space in fragrance, an area of key focus for fragrance players at the moment.
Givaudan’s move to add the company to its portfolio, including Expressions Parfumées’ NACTO range of perfumes designed to adapt to any production labelled as ‘organic’, will see it strengthen in this space.
The terms of the deal have not been disclosed, however Givaudan says it has funded the transaction from existing resources.
Focus: 2020 strategy
The acquisition moves Givaudan further towards its stated goals for the current period, as part of its 2020 strategy.
The strategy is built around three key pillars: growth (the company aims for 4-5% average organic sales growth), delivering with excellence, and creating strategic partnerships.
Gilles Andrier, CEO of Givaudan confirms: "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."
Maurizio Volpi, President of Givaudan's Fragrance Division explains futher how the acquistion ties into its 2020 strategy.
He says: "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."