Strengthens process development and research capabilities.
Givaudan has completed the acquisition of Soliance SA and its subsidiaries. With the move, Givaudan has access to Soliance's innovative 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, located in Pomacle and Ile Grande, and employs 96 people.
“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 in to the five strategic pillars of Givaudan,” explained Gilles Andrier, CEO of Givaudan.
Michael Carlos, president of Givaudan’s Fragrance Division, said: “Soliance will become an integral part of the Fragrance Division and bring significant contributions over the next few years, with its capabilities in innovation and mastering of advanced technologies. Soliance has a strong track record of identifying natural and unique molecules which can bring value to our customers and to their consumers.”
While terms of the deal have not been disclosed, the Soliance operations would have represented approximately CHF 25 million ($28 million) of incremental sales to Givaudan’s results in 2013 on a proforma basis. Givaudan will fund the transaction from existing resources.
Soliance is a French company which has developed, produced and sold active ingredients to the cosmetic industry since 1994. The company provides innovative cosmetic solutions to its international clients and partners and develops high added-value ingredients, derived from vegetable sources, microorganisms and microalgae. Soliance is an ethical company with high standards and eco-design products. Its strength in sustainable development is a major contribution to the cosmetic industry.