Givaudan, the global supplier of flavours and fragrances, is to acquire Drom.
Founded in 1911, Drom is a global perfume house creating fragrances for consumer products and fine fragrance customers across the world. Drom is headquartered near Munich in Germany and has manufacturing facilities in China, Germany, the USA and Brazil. The company employs 489 people globally.
Gilles Andrier, CEO of Givaudan said: “Like Givaudan, Drom has a long heritage in fragrance creation and their capabilities and strong culture will fit perfectly with ours.”
Maurizio Volpi, President of Givaudan’s Fragrance Division said: “Drom is a much respected international fragrance house that has developed a strong customer base, in particular with local and regional customers. The complementary nature of both businesses will further enhance our capabilities in serving customers across all segments and geographies.”
While terms of the deal have not been disclosed, Drom’s business would have represented approximately EUR 110 million of incremental sales to Givaudan’s results in 2018 on a proforma basis. Givaudan plans to fund the transaction from existing resources.
The planned acquisition remains subject to formal approvals from the relevant regulatory authorities and the transaction is expected to close in the third quarter of 2019.
For more information about Givaudan, please click here.
For more information about Givaudan, please click here.
