Givaudan reaches deal to buy cosmetics business of Indena

Swiss flavours and fragrances specialist Givaudan has brokered a deal to purchase the cosmetics business of Italian botanical company Indena.

The deal is part of the Swiss firm’s 2020 strategy to bolster the capabilities of its Active Beauty business.

Givaudan plans to fund the deal from its existing resources.

The Swiss firm in its press statement noted that the cosmetic ingredients business of Indena would have represented nearly €8m of incremental sales to its results in 2018.

The transaction, whose details have not been revealed, is expected to be completed in the first quarter of next year.

Furthermore, Givaudan will also sign a long term partnership agreement under which Indena will continue to manufacture ingredients for Givaudan.

Givaudan Fragrance Division president Maurizio Volpi said: “The acquisition of the cosmetics business of Indena fits very well with our long term strategy for Active Beauty.

“They have an excellent reputation in the market, thanks to the quality of their ingredients, their strong focus on innovation as well as the mastering of their supply chain. It offers Active Beauty an expanded portfolio of plant-based ingredients that nicely complement our current portfolio.”

Givaudan Active Beauty Business head Laurent Bourdeau said: “Indena’s cosmetics business will add high quality new active ingredients to our current portfolio of products.

“It is exciting to add such expertise to our existing capabilities and they will greatly contribute to our 2020 strategic ambitions and beyond.”

Indena managing director Daniele Giavini said: “We are in favour of this transaction as it enables Indena to focus on its core markets of pharmaceuticals and health food, whilst continuing to support the cosmetic ingredients business which has been a valuable part of our portfolio.

“We believe that Givaudan with its very long history and tradition in innovating taste and scent, coupled with its strong commercial presence, is the right partner to further strengthen this business in the future.”

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https://www.givaudan.com/media/media-releases/2019/givaudan-to-acquire-cosmetics-business-of-indena