Givaudan completed the purchase of Italian botanical specialist Indena, announced in November last year, with the agreement closed on May 29 and announced the acquisition of the French biotechnology company Alderys, as part of its long-term strategy to expand its capabilities in bioengineering technologies.
Indena is highly specialized in plant-derived assets, producing for the areas of pharma, personal care and food. It has more than 100 patents and thousands of published scientific studies. The deal formally signed last week includes a long-term manufacturing and innovation partnership.
The terms of the deal were not disclosed but Givaudan said Indena’s cosmetics business would represent around 8 million euros in Givaudan’s pro-forma sales increase in 2018.
In parallel to the agreement with Indena, Givaudan announced the acquisition of the French company Alderys, which develops innovative solutions for the biological engineering of compounds from renewable plant resources, aimed at the sectors of the chemical and cosmetic industry, in addition to nutrition.
Maurizio Volpi, President of Givaudan’s Fragrance Division said: “The acquisition of Alderys aligns with our long term strategy for Active Beauty and more specifically, in biotechnology complementary to our Fragrance and Active Beauty businesses.
“It will allow us to expand our portfolio of natural and biosourced products, thanks to their strong research and development bio-engineering platform.”
Dominique Thomas, CEO of Alderys, added: “We firmly believe that this is a great opportunity to expand our scientific experience in the service of the beauty, fragrance and aroma industry, whilst we will continue to serve our other historical and future partners.”
While terms of the deal have not been disclosed, Alderys’ business would have represented EUR 3 million of incremental revenues to Givaudan’s results in 2019 on a proforma basis. Givaudan plans to fund the transaction from existing resources. The planned acquisition remains subject to formal approvals from the relevant regulatory authorities and the transaction is expected to close in the second quarter of 2020.