The final purchase is reported to have added €20m to the fragrance company's numbers
Givaudan has put the finishing touches to buying up fragrance player Soliance in an effort to bolster its cosmetics R&D. The deal had been mooted for some time but the final purchase – the deal terms are unknown – of the active ingredients operator would have added €20m to Givaudan’s overall 2013 numbers. “Soliance represents Givaudan’s first acquisition since that of Quest, Givaudan boss Gilles Andrier said. “Its current portfolio of active cosmetic ingredients and strong process development and research capabilities fit well into the five strategic pillars of Givaudan.”
Nestlé recently sold off its 10% stake in the Swiss fragrance and flavours company – also a supplier to Nestlé – in a move that was also designed to prevent Givaudan from being taken over. Meanwhile Nestlé has confirmed it’s moving into medical skin treatments, buying up the rights to Emervel, Dysport and Restylane as well as Sculptra, an anti-wrinkle treatment, from Valeant Pharmaceuticals International. Nestlé’s earlier Galderma purchase now positions it firmly as a skin care/health player.
Adrian Holliday, London