ZURICH, June 3 Swiss fragrance and flavour maker
Givaudan said on Tuesday it had acquired French
cosmetic ingredients firm Soliance, its first acquisition in
more than seven years.
The deal is Givaudan's first acquisition since the $2.25
billion purchase of Quest International in March 2007. It did
not disclose the price and other terms or the identity of the
sellers of the privately owned firm.
Soliance, which develops active ingredients from vegetable
sources, microorganisms and microalgae for use in the cosmetics
industry, has two sites in France and employs 96 people,
Soliance would have contributed around 25 million Swiss
francs ($27.9 million) of incremental sales to the Swiss
company's 2013 results on a pro-forma basis, Givaudan said.
"Soliance will become an integral part of the Fragrance
Division and bring significant contributions over the next few
years, with its capabilities in innovation and mastering of
advanced technologies," the president of Givaudan's fragrance
division, Michael Carlos, said in a statement.
The acquisition will be funded from existing resources,
($1 = 0.8975 Swiss Francs)
(Reporting by Alice Baghdjian; editing by Jane Baird)