As it aims to step further into the skin care segment, Givaudan is in exclusive negotiations to acquire French manufacturer Soliance.
Givaudan announced today that it has acquired 100% of the shares of Soliance SA and its subsidiaries. Soliance provides innovative cosmetic solutions to its international clients and partners and develops high added-value active ingredients, derived from vegetable sources, microorganisms and microalgae. Soliance currently has two sites in France, located in Pomacle and Ile Grande, and employs 96 people.
Gilles Andrier, CEO of Givaudan, said: “Soliance represents Givaudans first acquisition since that of Quest. Its current portfolio of active cosmetic ingredients and strong process development and research capabilities fit well into the five strategic pillars of Givaudan.
Michael Carlos, President of Givaudans Fragrance Division, 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. Soliance has a strong track record of identifying natural and unique molecules which can bring value to our customers and to their consumers.”
While terms of the deal have not been disclosed, the Soliance operations would have represented approximately CHF 25 million of incremental sales to Givaudans results in 2013 on a proforma basis. Givaudan will fund the transaction from existing resources.