Swiss flavours, fragrances maker Givaudan in exclusive talks to buy Soliance SA
22 February 2014
Givaudan SA, a Swiss manufacturer of flavours and fragrances, yesterday said that it had entered into exclusive discussions to buy Soliance SA, a French maker of ingredients for cosmetics.
Geneva-based Givaudan said that the potential acquisition represents approximately CHF 25 million of incremental sales to its results in 2013 on a proforma basis.
Soliance, a division of Agro Industrie Recherches & Développements, provides cosmetic solutions to its international clients and partners, and develops high added-value active ingredients, derived from vegetable sources, microorganisms and microalgae.
Soliance currently has two sites in France and employs 77 people.
Gilles Andrier, CEO of Givaudan, said, ''Soliance represents Givaudan's first acquisition since that of Quest. Its current portfolio of active cosmetic ingredients and strong process development and research capabilities fit well into the five strategic pillars of Givaudan.''
Michael Carlos, president of Givaudan's Fragrance Division, said, ''We expect Soliance to become an integral part of the Fragrance Division and bring significant contributions over the next few years, particularly in Research and Development.''
Based in Vernier Switzerland, Givaudan is the world's largest maker of fragrance and flavour with a 25-per cent market share.
Its products are used by the food, beverage, consumer goods and fragrance companies.
It has a workforce of over 9,000 employees and subsidiaries in over 40 countries, and posted 2013 revenues of CHF 4.4 billion.