Founded in 1967, Fragrance Oils is a British-based manufacturer and marketer of innovative specialty fragrances for fine fragrances, personal and home care applications. Their state-of-the-art manufacturing facility in Radcliffe, UK, employs over 250 employees and sells its products in more than 90 countries, in particular in high growth export markets.
Gilles Andrier, CEO of Givaudan commented, “The acquisition of Fragrance Oils is another step in expanding our capabilities in serving local and regional customers. Following our earlier acquisition of Expressions Parfumées, it fits perfectly with our 2020 ambition to assert our leadership position in this customer segment, as well as leveraging the strong presence of Fragrance Oils in high growth markets. We are delighted to welcome the Fragrance Oils employees into the Givaudan family and are convinced that their know-how, talent and operations capabilities will greatly contribute to our common future success.”
“Over recent years, we have taken several steps in strengthening our capabilities to serve local and regional customers in the most effective way,” said Maurizio Volpi, president of Givaudan’s Fragrance Division, “Fragrance Oils brings another strong set of capabilities thanks to their focus on operational excellence as well as their presence in key geographies such as the UK, Africa and South-East Asia.”
Martin Potts, CEO of Fragrance Oils added: “Givaudan is a business that we have always held in the highest regard. We share a passion for creative flair, operational excellence and the importance that we place on our people to support our customer’s requirements in an increasingly agile market place. Fragrance Oils has a proud past and as part of the Givaudan family, we look forward to building on this legacy as part of the visionary 2020 strategy.”
While terms of the deal have not been disclosed, Fragrance Oils’ business would have represented approximately $60.6 million of incremental sales to Givaudan’s results in 2018 on a proforma basis. Givaudan funded the transaction from existing resources.