Givaudan enters into exclusive negotiations to acquire Albert Vieille SAS
Expanding capabilities in natural ingredients for the Fragrance Division
As part of its 2020 strategy to expand the capabilities of its fragrance business, Givaudan today announces that it has entered into exclusive negotiations to acquire Albert Vieille SAS, a French company specialised in natural ingredients used in the fragrance and aromatherapy markets.
Albert Vieille has unique know-how in the realm of aromatic plants and specialises in 100% pure essential oils and speciality natural ingredients. The natural ingredients are used for the formulation of perfumes and aromatherapy products.
With its origins dating back to 1920, and with more than 50 employees, Albert Vieille is based close to Grasse, in France, and has a manufacturing facility in Spain, with its products sold globally through a network of distributors. They source their raw materials across the world, where fragrant crops are harvested and have developed over many years strong capabilities in natural ingredients sourcing and processing.
Gilles Andrier, CEO of Givaudan said: “Acquiring Albert Vieille will fit nicely with our 2020 strategy to enrich Givaudan’s palette with novel in-house natural ingredients that our perfumers will use to offer best quality and creative solutions to our customers. This acquisition will also allow us to enter the market of essential oils for aromatherapy, which will contribute to our 2020 strategy for ‘health and well-being’. It is another step in reinforcing our presence in Grasse, where the perfumery know-how has recently been awarded World Heritage Status by UNESCO.”
Maurizio Volpi, President of Givaudan’s Fragrance Division said: “Albert Vieille will bring to Givaudan the expertise to further develop and vertically integrate our natural capabilities. We will combine our existing know-how with those of Albert Vieille to meet the needs of our customers who are facing an increasing demand from consumers for more natural and sustainable fragranced products.”
While terms of the deal will not be disclosed, Albert Vieille’s business would have represented approximately EUR 30 million of incremental sales to Givaudan’s results in 2017 on a proforma basis. Givaudan plans to fund the transaction from existing resources. The transaction is expected to close in the first quarter of 2019.
Givaudan is the global leader in the creation of flavours and fragrances. In close collaboration with food, beverage, consumer product and fragrance partners, Givaudan develops tastes and scents that delight consumers the world over. With a passion to understand consumers’ preferences and a relentless drive to innovate, Givaudan is at the forefront of creating flavours and fragrances that ‘engage your senses’. The Company achieved sales of CHF 5.1 billion in 2017. Headquartered in Switzerland with local presence in over 100 locations, the Company has more than 11,100 employees worldwide. Givaudan invites you to discover more at www.givaudan.com.
About Givaudan Fragrances
Givaudan is passionate about perfumery and is dedicated to combining creativity and innovation to design beautiful fragrances. With the industry’s largest perfumery team, Givaudan contributes to making life delightful and memorable through unique scent experiences for customers around the world. Currently present in all major markets, Givaudan strives to deliver fragrances for personal, home and laundry care, as well as prestige perfumes. Our customers benefit from Givaudan’s expertise in three business areas: Fine Fragrances, Consumer Products, and Fragrance and Cosmetics Ingredients. We invite you to ‘engage your senses’ and learn more about Fragrances at www.givaudan.com/fragrances.
About Albert Vieille
Based on more than a century of experience in Vallauris, France, Albert Vieille SAS has crafted exceptional savoir-faire in the realm of aromatic plants. Albert Vieille SAS is a venerable company specialising in 100% pure and natural aromatic raw materials for professionals working in the perfumery and aromatherapy markets. They have more than 200 aromatic products for use in formulating scented creations. Albert Vieille offers only aromatic products that are 100% pure, meaning they are from botanically identified plants of single geographic origin. The products are also 100% natural, as they are obtained through physical processes, undergoing no chemical modification or denaturation by petrochemical-derived molecules. In 2017, the company achieved sales of EUR 30 million, and employed more than 50 employees. www.albertvieille.com/en/
For further information please contact:
Peter Wullschleger, Givaudan Media and Investor Relations
T +41 22 780 9093
Marie Laure André, Givaudan Fragrances
T +33 1 3998 4477