Givaudan, which is already the global leader in flavours and fragrances, yesterday announced that it is to acquire German-based fragrance manufacturer Drom to further extend its leadership in the global market.
Founded in 1911, Drom is a global perfume house creating fragrances for consumer products and fine fragrance customers across the world. Drom is headquartered near Munich in Germany and has manufacturing facilities in China, Germany, the USA and Brazil. The company employs 489 people globally.
“The acquisition of Drom is fully in line with our strategic ambitions. Like Givaudan, Drom has a long heritage in fragrance creation and their capabilities and strong culture will fit perfectly with ours,” said Gilles Andrier, CEO of Givaudan.
While terms of the deal have not been disclosed, Givaudan considers that Drom’s business would have represented approximately EUR 110 million of incremental sales to their results in 2018 on a proforma basis. The planned acquisition remains subject to formal approvals from the relevant regulatory authorities and the transaction is expected to close in the third quarter of 2019.