Givaudan buys French essential oils specialist Albert Vieille

Zurich, May 6 2019 (AFP) -Swiss group Givaudan, the world's number one fragrance and aroma manufacturer, has finalised the acquisition of French company Albert Vieille, specialised in natural ingredients for perfumery and aromatherapy. The announcement was made by Givaudan in a press release issued on Monday.

Negotiations began in December, and the value of the transaction was not disclosed.

However, Givaudan indicated that the business of Albert Vieille would have added an additional revenue of over €30 million to its 2018 result.

Givaudan designs and produces fragrances for fine perfumery, cosmetics and personal care products. Last year, it generated a revenue of CHF5.5 billion (€4.8 billion).

Albert Vieille was founded in 1920 and it specialises in producing essential oils and natural ingredients used specifically in the formulation of fragrances and aromatherapy products.

The company is based close to the city of Grasse, a world-renowned perfumery hub, and has sixty employees.  It also operates a production site in Spain.

After a lengthy pause in acquisition activity, Givaudan resorted to external growth operations again in 2014, when it bought French company Soliance, strengthening its position in the cosmetics ingredients field. The Swiss group then carried out a series of smaller targeted acquisitions, before embarking on a major operation last year with the take-over of another French company, Naturex. At the end of April, Givaudan also announced it had purchased the cosmetics business of German biopolymer producer AMSilk.