June 3, 2014 / 7:00 AM / 5 years ago

Givaudan buys France's Soliance in first acquisition since 2007

ZURICH, June 3 (Reuters) - 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, Givaudan said.

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, Givaudan said.

$1 = 0.8975 Swiss Francs Reporting by Alice Baghdjian; editing by Jane Baird

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