Givaudan is set to acquire a majority stake in Brazilian fragrance house Vollmens Fragrances to strengthen its regional growth in Latin America.
The move is said to help the Swiss fragrance supplier “better serve” local customers as Vollmens Fragrances operates across the Latin American region, as well as Central America, Africa and North America.
The partnership between Givaudan and the founding families of Vollmens Fragrances will provide “a strong platform for growth”, read a company statement.
Givaudan plans to fund the transaction from existing resources, which is expected to close in the second half of 2025.
“Vollmens Fragrances will bring expertise to Givaudan in serving the fast-growing mid-sized customer segment in Latin America,” said Maurizio Volpi, President of Givaudan’s Fragrance & Beauty.
“Through the partnership we have created with the current owners, we will leverage the complementary capabilities of both Givaudan and Vollmens [Fragrances] to offer a winning proposition for customers and partners across the region.”
Vollmens Fragrances’ founding family executives, Nestor Francisco Mendes and Rinaldo José Mendes, will continue to lead the 180-employee-strong company going forward as part of the agreement.
“Acquiring a majority stake in Vollmens Fragrances fits perfectly with our 2025 strategy to expand our presence with local and regional customers,” said Gilles Andrier, CEO of Givaudan.
“This partnership will also further strengthen our business in the high-growth markets of Latin America and we look forward to building a bright future together with the Mendes family.”
While the terms of the deal have not been disclosed, Vollmens Fragrances’ business would have represented approximately CHF 25 million of incremental sales to Givaudan’s results in 2024 on a proforma basis.
Under the terms of the agreement, Givaudan and the founding family of Vollmens have the option to further increase Givaudan’s shareholding in the future.
Nestor and Rinaldo, Co-Presidents of Vollmens Fragrances, said the company is “excited” to join Givaudan.
“[It is] a company that shares our passion for innovation and quality in the fragrance industry,” the duo commented.
“Together, we will leverage our local expertise to create exceptional experiences for our customers in Brazil and beyond.
“This partnership marks a new and exciting chapter for us, and we look forward to starting this new moment with our stakeholders.”
Lead image: Inside Givaudan’s corporate headquarters in Vernier, Switzerland.
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