And one more! The shopping spree continues at Givaudan. After the recent acquisitions of Fragrance Oils in the UK, Drom and AMSilk in Germany, Naturex and Albert Vieille in France, and Draco in China, to name but a few, the Geneva-headquartered company has just announced the acquisition of the cosmetics business of the Italy’s Indena.
Based in Milan Italy, Indena is a world leading company dedicated to the development and production of high quality active botanical ingredients for use in the pharmaceutical, health food and personal care industries.
Givaudan and Indena will also sign a long-term partnership agreement under which Indena will continue to manufacture ingredients for Givaudan, as well as providing innovation capabilities and other supporting services. This partnership will allow both companies to enhance their capabilities and to focus on their respective core competencies.
This acquisition is part of Givaudan’s 2020 strategy to expand the capabilities of its Active Beauty business, focusing on cosmetic ingredients.
“Indena has an excellent reputation in the market, thanks to the quality of their ingredients, their strong focus on innovation as well as the mastering of their supply chain. It offers Active Beauty an expanded portfolio of plant-based ingredients that nicely complement our current portfolio. We are very confident that the acquisition will further enhance our position as a leading player in the active cosmetic ingredients industry,” said Maurizio Volpi, President of Givaudan’s Fragrance Division.
The terms of the deal have not been disclosed. Indena’s cosmetic ingredients business would have represented approximately EUR 8 million of incremental sales to Givaudan’s results in 2018 on a proforma basis. The transaction is expected to close in Q1 2020.