Firmenich acquires stake in French fragrance rival Robertet

The minority stake represents approximately 17% of the share capital

Firmenich, the world’s largest privately-owned fragrance and flavour company, is to acquire a minority stake in French rival Robertet.

The acquisition represents approximately 17% of the share capital at a price of €683.30 per security; First Eagle Investment Management will sell the stake held by its advisory clients.

Firmenich said it is prepared to be a passive long-term shareholder in Robertet alongside the Maubert family.

However, if it is invited to take a controlling interest, it will consider the option.

"Firmenich has the greatest respect for Robertet, with its family values, long term vision of the industry and leading capabilities in natural ingredients," said Patrick Firmenich, Chairman of the Board of Firmenich.

“As a long-term oriented shareholder, this investment reflects Firmenich's commitment to best support Robertet's continued growth.”

The investment is said to be in line with Firmenich’s sustainable and natural solution strategy.

Gilbert Ghostine, CEO of Firmenich, added: “With its strong naturals portfolio in perfumery, flavours and ingredients, Robertet is well positioned to benefit from consumers' continued demand for authentic natural products.”

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