Givaudan is in negotiations to acquire Albert Vieille
today Dec 14, 2018
Swiss group Givaudan, global leader in fragrances and flavourings, announced on Friday that it has entered into exclusive negotiations to acquire French company Albert Vieille, a specialist in natural fragrance and aromatherapy ingredients.
Based near French perfume capital Grasse, Albert Vieille has unique expertise in aromatic plants and is specialised in essential oils, explains Givaudan in a release. The potential acquisition would therefore allow the Swiss company to reinforce its fragrance division.
"The acquisition of Albert Vieille fits in perfectly with our 2020 strategy, aiming to expand Givaudan's palette with new natural ingredients," said CEO Gilles Andrier in the company's release. "It's one more step towards reinforcing our presence in Grasse," he added.
The Geneva-based company already built on its presence in the provençal town in June when it bought French perfumers Expressions Parfumées. In September, Givaudan also completed the acquisition of Naturex, a French company specialised in plant-based ingredients for the food, health and cosmetics industries, over the course of a two-part public offering.
Albert Vieille currently employs around 50 people and reported revenues of 30 million euros in 2017.
Copyright © 2019 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.