Givaudan continues its expansion in France. The Geneva-based group has entered into exclusive negotiations with a view to acquiring the specialist in natural ingredients for perfumery and aromatherapy.
The operation confirms Givaudan’s interest in the natural label. It is part of the 2020 strategy of the Swiss manufacturer of flavours, fragrances and active cosmetic ingredients, which aims to strengthen the capacities of its Fragrances division.
Founded in 1920 and based near the town of Grasse, Albert Vieille has some fifty employees and also has a production site in Spain. On a pro forma basis, its business would have represented around 30 million euros of additional turnover for Givaudan in 2017.
The transaction, which is expected to be finalised in the first quarter, “will be financed from existing resources”, the group says.