Flavour and fragrance house will benefit from DRT’s terpenes and rosin derivatives
Swiss flavour and fragrance company Firmenich has inked a deal with investment house Ardian, asset management group Tikehau Capital and family shareholders to acquire Les Derives Resiniques et Terpeniques (DRT), a world leader in plant-based chemistry from pine trees.
Headquartered in Dax, France, DRT specialises in developing sustainable, renewable and naturally-derived ingredients from terpenes and rosin derivatives. It boasts a turnover in excess of €550m and employs more than 1,500 people, with production sites in France, the US, India and China.
“I am thrilled to bring DRT’s unique capabilities for developing sustainable ingredients to Firmenich,” said Chairman of the Board Patrick Firmenich.
“This proposed combination builds on our business partnership of more than 30 years and our established track record of successful co-development in a long-standing joint venture.”
Thibault Basquin, Head of Americas Investment and Managing Director at Ardian Buyout, said: “Firmenich would be the ideal home for DRT.
“Ardian has enabled DRT to accelerate its growth, invest in new projects and enhance its sustainability approach. Firmenich has been an important strategic partner for DRT for many years and would be uniquely positioned to bring DRT’s product development capabilities to the next level.”
The financial terms of the deal have not been disclosed.