Givaudan to buy cosmetics arm of natural ingredients specialist Indena

Swiss group Givaudan, the world's number one fragrance and aroma manufacturer, announced on Tuesday it is set to buy the cosmetics business of Italian company Indena, specialised in plant-derived active ingredients. The details of the deal were not disclosed.

The Geneva-based group simply indicated in a press release that, in relation to the results of the 2018 financial year, the business would represent an extra €8 million in revenue on a pro forma basis.

Givaudan has struck a deal with Indena with a view to buying the latter's cosmetics business, and setting up a long-term supplier partnership. The Swiss group stated that the acquisition is expected to be finalised in Q1 2020.

Indena is based in Milan and specialises in active ingredients made from plant extracts, which are used by the pharmaceutical, food, health and personal care products industries.

After a lengthy pause, Givaudan has made a number of external growth operations since 2014, when it bought French company Soliance, strengthening its position in the cosmetics ingredients field.

The Swiss group carried out its largest operation last year, buying French company Naturex for nearly €1.3 billion, after a two-stage take-over bid.

Givaudan produces aromas for the food sector and fragrances and scents for the perfumery, cosmetics and personal care products industries, and in 2018 it generated a revenue of CHF5.5 billion (€5.0 billion at current exchange rates). In the same year, acquisitions contributed to the group's revenue for a value of CHF249.0 million.