VERNIER (dpa-AFX) - Givaudan AG (GVDBF.PK), a Swiss maker of flavors, fragrances, and cosmetic ingredients, announced Friday its agreement to acquire a majority stake in Vollmens Fragrances Ltda, a Brazilian fragrance house. The financial terms of the deal were not disclosed.
The acquisition is part of Givaudan's 2025 strategy to grow with local and regional customers.
The company noted that Vollmens Fragrances' business would have represented around 25 million Swiss francs of incremental sales to Givaudan's results in 2024 on a proforma basis.
The acquisition is expected to close in the second half of 2025, and Givaudan plans to fund the deal from existing resources.
Under the agreement terms, Givaudan and the founding family of Vollmens have the option to further increase Givaudan's shareholding in the future.
Vollmens Fragrances, which employs 180 professionals, operates across the Latin American region as well as Central America, Africa and North America. The founding family executives, Nestor Francisco Mendes and Rinaldo José Mendes, will continue to lead Vollmens going forward, as part of the deal.
Maurizio Volpi, President of Givaudan's Fragrance & Beauty said, 'Vollmens Fragrances will bring expertise to Givaudan in serving the fast-growing mid-sized customer segment in Latin America. Through the partnership we have created with the current owners, we will leverage the complementary capabilities of both Givaudan and Vollmens to offer a winning proposition for customers and partners across the region.'
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