Firmenich has entered into exclusivity with Ardian, Tikehau Capital and the company’s family shareholders to acquire Les Dérivés Résiniques et Terpéniques (DRT), a world leader in plant-based chemistry, mainly from pine trees, and one of the leading suppliers globally of high quality, renewable ingredients for the perfumery industry.
Founded in 1932 and headquartered in Dax, France, DRT developed a unique, backward integrated business model over many decades, including access to sustainable raw materials, best-in-class extraction and distillation capabilities and advanced innovation processes. DRT is at the forefront of developing sustainable, renewable and naturally-derived ingredients from terpenes and rosin derivatives. DRT offers green alternatives for a range of applications and markets.
"I am thrilled to bring DRT’s unique capabilities for developing sustainable ingredients to Firmenich. This proposed combination builds on our business partnership of more than 30 years and our established track record of successful co-development in a long-standing joint venture," said Patrick Firmenich, Chairman of the Board, Firmenich.
DRT has a turnover in excess of EUR 550 million, employs more than 1,500 people around the world and is operating through a global footprint with four production sites located in France, two in the USA, two in India and one in China.
Financial terms of the deal have not been disclosed. The proposed transaction remains subject to several conditions including the consultation of the relevant employee representatives and customary approvals by the antitrust authorities.