As part of its 2025 strategy to expand the capabilities of its fragrance business, Givaudan has announced that it has closed the acquisition of Custom Essence, a US based fragrance creation house. Founded in 1981, Custom Essence is a family owned business based in New Jersey, USA. They specialize in the formulation of natural fragrances and create perfumes across categories for both local and regional and for larger customers. The company employs 70 people globally. Custom Essence’s unique know-how in natural fragrance creation has largely contributed to their success in the USA and in particular in natural products for the personal care category. Driven by a culture of creativity, agility and quality, they have won the loyalty of a large base of customers for whom they have created some of the leading consumer preferred fragranced products in the USA.

Maurizio Volpi, President of Givaudan Fragrance & Beauty said: “We are excited to acquire Custom Essence as it fits perfectly with our 2025 strategy to expand our presence with local and regional customers and grow our capabilities in natural perfumes. Custom Essence will bring true expertise in managing a fast growing customer segment, as well as valuable know-how in formulating natural fragrances. I warmly welcome all the employees of Custom Essence into the Givaudan family.”

Prashun Patel, Chief Operating Officer at Custom Essence said: “We are proud to join Givaudan and to bring in our knowledge in natural fragrance creation, as well as our reach to local and regional customers. Givaudan’s technology, regulatory, supply chain, and international manufacturing support will enable us to scale quickly to provide even better value to our customers. We are looking forward to creating together the beautiful fragrances that consumers love.” While the terms of the deal have not been disclosed, Custom Essence’s business would have represented approximately USD 40 million of incremental sales to Givaudan’s results in 2020 on a proforma basis. The transaction was funded from existing resources.

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“This joint venture supports our global strategy to further strengthen our manufacturing footprint by also being present in India. Privi is not only perfectly positioned to support the region, but also highly skilled in managing the complexity of producing fragrance ingredients of different ranges of volumes. This agreement will enable us to evolve our dynamic portfolio of small signature products that enhance the perfumer’s palette and give their creations a competitive edge in the market.”

Maurizio Volpi, President of Givaudan Fragrance & Beauty

Fragrance ingredients are a key element of Givaudan’s Fragrance & Beauty business. The joint venture with Privi supports the Company’s ambition to enhance fragrance capabilities in high-growth markets and its commitment to advance manufacturing capabilities as a core part of its long-term strategic vision. Givaudan continues to expand its global production footprint, joining key regions with manufacturing facilities in Europe, America and in Asia, where we are present in China and now in India.

Mahesh Babani CMD Privi Speciality Chemicals Ltd. said: “We are excited with this opportunity to be partnering with Givaudan to support and expand their production of speciality fragrance ingredients.We look forward to showcase our knowhow and manufacturing expertise as a trusted partner through this strategic joint venture.”

Givaudan will transfer a number of small-volume products from its production facility in Vernier, Switzerland to the newly formed joint venture over the next five years. This will allow the site in Switzerland to focus resources on key strategic ingredients.

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Yu Lu, Co-Founder and CEO of Next Beauty China

Grégoire Grandchamp, Co-Founder & VP of Strategy and Business Development, Next Beauty China

Founded in 2018, Next Beauty is headquartered in Shanghai and employs around 50 employees. They are recognised as experts in identifying high potential premium brands and in the positioning, marketing and distribution of emerging fragrance & beauty brands in China. Next Beauty also has a very strong digital footprint, being a 5* Tmall partner, and having a strong presence across key social media platforms. With more than 15 successful brands launched in China in less than three years, Next Beauty has established itself as a leading incubator for fragrance & beauty brands in China.

As a market leading company in the fragrance & beauty business, Givaudan will be able to support Next Beauty in realizing their ambitions via the extensive suite of capabilities that Givaudan has globally and in China, with Next Beauty bringing a deep knowledge of the Chinese beauty market and valuable insight into the key trends within the evolving Chinese consumer population.

“Initiating this exciting partnership with Next Beauty China, by becoming a shareholder, provides Givaudan with a further access into the high growth Chinese fragrance & beauty market and is fully aligned with our 2025 strategy. By sharing our creative and innovation capabilities, we will be able to generate additional value for Next Beauty as they seek to develop premium brands for Chinese consumers.”

Maurizio Volpi, President Fragrance & Beauty at Givaudan 

Yu Lu and Gregoire Grandchamp, co-founders of Next Beauty said: “We are thrilled to enter into this collaboration with Givaudan. We would like to thank the Givaudan team for their trust and also our existing partners and collaborators for their ongoing cooperation and support. Givaudan’s global capabilities and its very strong footprint in China will be a great support in many areas as we look to develop Next Beauty and capture the exciting growth opportunities in the Chinese fragrance & beauty market.”

The terms of the deal will not be disclosed and Givaudan funded the transaction from existing resources.

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Givaudan Fragrance & Beauty is delighted to share the global leadership changes of our Consumer Products and Fine Fragrance business effective February 1st, 2021.

After more than 30 years at Givaudan, Colin O’Neill, Global Head of Consumer Products, Fragrance & Beauty has decided to retire at the end of April 2021. Colin joined Givaudan in 1990 and has held many positions before becoming the Global Head of Consumer Products in 2007. In this role, Colin has led our business in a time of great change, driving growth, and ensuring Givaudan continued to deliver great fragrances for our customers’ brands. After his retirement, he will continue to support us as a consultant on some key business initiatives. We are enormously thankful for his dedication and contribution to the success of the business during his tenure.

Felix Mayr-Harting, Global Head of Consumer Products – Fragrance and Beauty, Givaudan

Givaudan has announced that Felix Mayr-Harting is appointed Global Head of Consumer Products – Fragrance & Beauty, effective February 1st, 2021. Felix brings 28 years of experience in the Fragrance industry and a deep knowledge of Givaudan. Felix has been the Global Head of Fine Fragrances since 2008, successfully leading the business in all regions of the world. Prior to this, he was responsible for the Consumer Products business of Givaudan in North America, leading the integration in that region with Quest International and before that he held the role of World Account Manager for Unilever.

Xavier Renard, Global Head of Fine Fragrances, Givaudan

 

 

 

 

Concurrently, Givaudan is also pleased to announce that Xavier Renard is appointed Global Head of Fine Fragrances, effective February 1st, 2021. Xavier will be responsible for leading the global Fine Fragrance business from creation, to development and sales. Xavier brings many years of experience in the Fragrance industry and a deep knowledge of the business with a strong track record in managing complex businesses and organisations. Xavier is currently the Head of Fine Fragrances for Europe.

 

Oriol Segui, Head of Fine Fragrances- Europe, Givaudan

Following the appointment of Xavier Renard as Global Head of Fine Fragrances, we are pleased to announce that Oriol Segui is appointed Head of Fine Fragrances Europe, effective February 1st, 2021. Oriol brings 23 years of experience in the Fragrance industry and a deep knowledge of the European Fine Fragrances market and customers. Oriol is currently the Commercial Director Fine Fragrances Europe, a role he has held since 2014 and that he has led very successfully.

Maurizio Volpi, President of Givaudan Fragrance & Beauty, said: “I would like to thank Colin for the many years of loyal service and leadership at Givaudan. These changes in the organization bring together an inspiring team of leaders that will preserve a corporate culture that values the products that we create and our customers that we support around the world.”

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Founded in 2009, Alderys is an innovative French biotechnology company headquartered in Orsay, France, employing 30 employees. Alderys develops innovative approaches to the biological engineering of valuable compounds from renewable feedstock. The projects developed by Alderys are aimed at the chemical and cosmetic industry sectors as well as nutrition. They are recognised for offering innovative technological industrial solutions with high sustainability standards.

Maurizio Volpi, President of Givaudan’s Fragrance Division said: “Today is an exciting day as we welcome the Alderys employees within the Givaudan family. This acquisition aligns with our company purpose and long term strategy whilst their expertise in biotechnology is fully complementary to our Fragrance and Active Beauty businesses. In fact, it will allow us to expand our portfolio of natural and bio-sourced products, thanks to their strong research and development bio-engineering platform. It will be an additional tool to drive our future development and innovation in the active cosmetic ingredients space and beyond. It will also reinforce Givaudan’s capabilities to support our customers in developing sustainable, performant and safe products.”

Dominique Thomas, CEO of Alderys added: “We are very proud to join Givaudan and to bring in the bio-engineering platform we have developed with success for ten years. We strongly believe this is a great opportunity to expand our scientific expertise to the service of the beauty, fragrance and flavour industry, whilst we will continue to serve our other historical and future partners as an independent entity within the Givaudan group.”

Laurent Bourdeau, Head of Givaudan’s Active Beauty Business said: “Alderys has a strong track record in designing innovative biological pathways to produce environmentally-friendly raw materials, which is essential to the way we develop our cosmetic ingredients. With specific scientific programmes dedicated to Active Beauty, we are very excited by the capabilities of Alderys to support us in enriching our offer to our customers.”

While terms of the deal have not been disclosed, Alderys’ business would have represented EUR 3 million of incremental revenues to Givaudan’s results in 2019 on a pro-forma basis. Givaudan funded the transaction from existing resources.

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Givaudan launches Koffee’Up, a new sustainable beauty elixir crafted from upcycled Arabica coffee.

A cosmetic innovation created in partnership with the start-up company Kaffe Bueno brings remarkable skin care benefits to consumers

Givaudan Active Beauty is proud to launch Koffee’Up, a scientifically proven premium coffee oil crafted using upcycling techniques. Koffee’Up is referred to as the “new argan oil” in the beauty industry as a result of its natural, eco-conscious, and effective properties, bringing a myriad of facial skin care benefits to consumers such as hydration, protection, and anti-agAraing.

The revolutionary beauty product was developed in collaboration with Danish start-up company Kaffe Bueno, the winner of the 2019 edition of MassChallenge Switzerland. As Givaudan is a founding partner of the distinguished start-up accelerator, this is the first product collaboration to result from working with one of the start-ups based in the incubator. The biotech start-up focuses on upcycling spent coffee grounds, or coffee waste, into active and functional ingredients for cosmetics to bring health and skin benefits to consumers. The strong sustainable mission of Kaffe Bueno is also in line with our approach to sustainability, adding value by using upcycling, or byproducts from side streams, to enrich our portfolio with products that are also good for the planet.

Laurent Bourdeau, Head of Active Beauty, said: “We are thrilled of this unique collaboration with Kaffe Bueno and we’re eager to start using the new product in creative solutions for customers. The high quality, traceable and upcycled ingredients used in Koffee’Up showcases a prosperous new avenue for using sustainable coffee in the world of beauty. This is a big achievement and opportunity, and we’re looking forward to presenting this innovative beauty elixir to customers.”

Maurizio Volpi, President of Givaudan Fragrances: “Our Company purpose and sustainability approach are at the core of our business and the launch of Koffee’Up fits perfectly well with creating for happier, healthier lives with love for nature. The innovation surrounding upcycling in the cosmetics industry today is a crucial point for the evolution of sustainable business and we’re thrilled to partner with a young start-up company at MassChallenge Switzerland who values the same sustainable practices we do.”

Koffee’Up follows the launch of Vetivyne, a fully natural and sustainable cosmetic active ingredient launched in 2018 that is crafted from upcycled vetiver roots from leftover fragrance raw materials

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Headquartered in Milan Italy, Indena is a world leading company dedicated to the identification, development and production of high quality active ingredients derived from plants, for use in the pharmaceutical, health food and personal care industries. With almost a century of botanical experience, Indena has developed an extensive breadth of expertise in this field, while ensuring biodiversity and protecting the ecosystem from uncontrolled harvesting.

Givaudan and Indena also signed a long term partnership agreement under which Indena will continue to manufacture ingredients for Givaudan, as well as providing innovation capabilities and other supporting services. This partnership will allow both companies to enhance their capabilities and to focus on their respective core competencies, a win-win strategy to the benefit of customers and consumers.

Maurizio Volpi, President of Givaudan’s Fragrance Division says: “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. We are very confident that the acquisition will further enhance our position as a leading player in the active cosmetic ingredients industry.”

Laurent Bourdeau, Head of Givaudan’s Active Beauty Business says: “Indena’s cosmetics business will add high quality new active ingredients to our current portfolio of products. Their four strategic pillars – botanical expertise, research, scale up, quality safety and efficacy – fit perfectly with Givaudan Active Beauty’s future ambitions as well as with our sustainability approach ‘A Sense of Tomorrow’. It is exciting to add such expertise to our existing capabilities and they will greatly contribute to our strategic ambitions.”

Daniele Giavini, Managing Director of Indena, adds: “We have been in favour of this deal as it enables Indena to fully manage, focus on and expand its growing core markets, 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. Givaudan’s culture and its knowledge of natural cosmetic ingredients, as well as the use of the latest sustainable biotechnologies to create high-performing products, fit well with the philosophy we have consistently adopted at Indena throughout our history.”

The terms of the deal have not been disclosed and Givaudan funded the transaction from existing resources. Indena’s cosmetic ingredients business would have represented approximately EUR 8 million of incremental sales to Givaudan’s results in 2019 on a proforma basis.

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