The terms of the agreement have not been disclosed. The deal is expected to close in the first quarter of 2020.
Givaudan goes shopping again. The Swiss fragrance and flavors supplier has reached an agreement with the Italian Indena to acquire its cosmetics business. The terms have not been disclosed. The deal is expected to close in the first quarter of 2020 and will be funded with existing resources.
Indena specializes in the identification, development and production of active ingredients coming from plants for pharmaceutical, health and personal use in the industry. “They have an excellent reputation in the market thanks to the quality of their ingredients, offering an expanded portfolio based on plants that complement our current portfolio very well, ” stated Maurizio Volpi, president of the fragrance division of Givaudan.
With this deal, Givauden continues to gain strengthen its portfolio. In August, it acquired its British competitor Fragance Oils, in July the German fragrance manufacturer Drom, and in May Golden Frog, a Vietnamese manufacturer of natural aromas. The amount of the three deals has not been disclosed.