Symrise has submitted a binding offer to acquire 100% of French high-end fragrance house R. Romani - Société Française d’Aromatiques (SFA Romani).
In addition, Symrise has submitted a binding offer to fully acquire fragrance manufacturer Groupe Neroli, with which it formed a joint venture last year to build a factory in the Grasse region of southern France.
The combined annual sales of SFA Romani and Groupe Neroli amount to more than €40m. Both companies are based in the Grasse area.
The closing of the transactions is expected in Q2 2022, subject to approval of respective bodies and consultations of the works councils.
Financial details of the transactions have not been disclosed.
Symrise said the acquisitions will help to reinforce its fine fragrance presence in southern France, strengthen its competitiveness in the creation of fragrance compositions and broaden its presence in key countries in Europe, Africa and the Middle East.
“These two acquisitions represent another step forward in strengthening Symrise's fine fragrance business and are fully in line with our strategic objective to accelerate our growth in this business area," said Symrise fine fragrance global vice-president Ricardo Omori.
“With the transactions, we increase our access to high-quality natural ingredients, expand our customer base and strengthen our competitiveness through greater agility as well as a significantly enlarged fine fragrance team in the historical birthplace of perfumery in Europe, Pays de Grasse,” he added.
