Givaudan has announced that it has entered into negotiations to acquire Albert Vieille SAS, a French company based in Grasse, specializing in natural ingredients used in the fragrance and aromatherapy markets, in order to expand the capabilities of its fragrance business.
Albert Vieille has specializes in aromatic plants and in 100% pure essential oils from differentiated natural ingredients. Its factory in Spain produces inputs used for the formulation of perfumes and aromatherapy products.
Gilles Andrier, Givaudan´s CEO said: “Acquiring Albert Vieille is the perfect strategy for our 2020 Focus, which is to enrich the palette of our perfumers with natural ingredients in house and provide better quality and creative solutions to our customers . This acquisition will also enable us to enter the essential oils market for aromatherapy, which will contribute to our health and wellness strategy. It is also a further step towards strengthening our presence in Grasse, where the know-how in perfumery has recently been awarded by UNESCO as a World Heritage Site. ”
Although the terms of the agreement are not disclosed, Albert Vieille’s business would have represented approximately US $ 30 million of incremental sales to Givaudan’s results in 2017. Givaudan plans to fund the transaction with existing resources. The transaction is expected to close in the first quarter of 2019.