Givaudan announces exclusive negotiations to acquire 100% of the shares of Soliance SA and its subsidiaries
Swiss fragrances manufacturer Givaudan has announced that it has entered into exclusive negotiations to acquire 100% of the shares of Soliance SA and its subsidiaries.
Soliance is currently a division of ARD (Agro Industrie Recherches & Développements). It provides innovative cosmetic solutions to its international clients and partners and develops high added-value active ingredients, derived from vegetable sources, microorganisms and microalgae. Soliance currently has two sites in France, located in Pomacle and Ile Grande, and employs 77 people.
Michael Carlos, President of Givaudan's Fragrance Division, said: "We expect Soliance to become an integral part of the Fragrance Division and bring significant contributions over the next few years, particularly in Research and Development. Soliance has a strong track record of identifying natural molecules which can bring value to our customers and to their consumers."
While terms of the deal have not been disclosed, the transaction is expected to close in the second quarter of 2014, subject to the customary closing approvals and conditions which includes consultations with the employee representative bodies.