In France, flavors and fragrance major Givaudan has entered into exclusive negotiations to acquire Albert Vieille SAS, a company specializing in essential oils and other specialty natural ingredients for the fragrance and aromatherapy markets.
Albert Vielle has more than 50 employees and is headquartered near Grasse, France. The business would have contributed €30 million (US$34.1 million) to Givaudan’s 2017 results.
“Acquiring Albert Vieille will fit nicely with our 2020 strategy to enrich Givaudan’s palette with novel in-house natural ingredients that our perfumers will use to offer best quality and creative solutions to our customers,” says Givaudan CEO Gilles Andrier. “This acquisition will also allow us to enter the market of essential oils for aromatherapy, which will contribute to our 2020 strategy for ‘health and well-being’. It is another step in reinforcing our presence in Grasse, where the perfumery know-how has recently been awarded World Heritage Status by UNESCO.”