Two French banks, Bpifrance and BNP Paribas Développement, have both taken minority stakes in Herbarom, which the company will use “to launch a new growth phase”. The amounts involved were not disclosed.
“My passion for entrepreneurship, for creation and for development remains intact after 15 years leading the group,” said CEO Luc Ardouvin. How to carry on progressing and taking on new challenges in an always more complex environment while keeping the independence of the Group, its culture and its values? That was the equation.
“The encounter and exchanges with Bpifrance and BNP Paribas Développement teams convinced me of the existence of a finance whose first target is to serve and support my company’s project by making their resources and their networks available to us, with the shared ambition to look greater and further.”
Based in the Drôme department in southern France, Herbarom has two main activities: Herbarom Laboratoire, which produces essential oils and plant extracts for various markets including cosmetics; and Phytéo Laboratoire, a CDMO specialised in nutraceuticals of natural origin. It turns over about €50 million/year.
“Herbarom’s objective is to become a European leader in natural ingredients and nutraceuticals through an ambitious strategy combining organic and external growth in France, Italy and the USA,” the company said. It has made three acquisitions in the last five years, notably Akémia Bio, a specialist in organic ingredients for cosmetics, in 2021.