FIRMENICH TO ACQUIRE AGILEX FRAGRANCES
Geneva, Switzerland, June 14th, 2017 – Firmenich today announced that it is acquiring Agilex Fragrances, a leading fragrance company in North America serving mid-sized customers. Headquartered in Piscataway, New Jersey, U.S.A, Agilex Fragrances is recognized for its impressive track record in designing creative fragrances, as well as its industry-leading supply chain with best-in-class speed-to-market. Furthering its operational excellence, the Group recently launched a new, state-of-the-art manufacturing center in Somerset County, New Jersey with highly automated and flexible processes.
“I am delighted to be welcoming Agilex Fragrances within the Firmenich Group,” said Patrick Firmenich, Chairman of the Board, Firmenich. “With their established customer base, recognized best-in-class service levels and proven operational excellence for mid-sized customers in North America, they perfectly complement our Fragrance business.”
“By joining the Firmenich Group, with its global reach and cutting edge creativity and research, we will take our company to new heights,” commented Ray Hughes, CEO, Agilex Fragrances. “Our shared ambition is to design unique fragrances for our customers while furthering our industry-leading agility and speed-to-market.”
“Agilex’s fit-for-purpose business model is a winning blueprint to serve mid-sized businesses, combining proprietary, tailored solutions with an agile service model,” added Gilbert Ghostine, CEO Firmenich. “I look forward to seeing how our global creativity and innovation capabilities, as well as, consumer understanding will open up new opportunities for Agilex and their customers.”
Upon closing, Agilex Fragrances will be operating as a stand-alone entity and will continue to design world-class fragrance solutions for mid-sized customers. With the new manufacturing center’s latest automated compounding technology and flexible processes, Agilex Fragrances will take its innovation and turnaround
times to new levels of excellence.
Financial terms of the deal have not been disclosed. The completion of this transaction is subject to clearance by the relevant regulatory authorities and is expected to close prior to year-end 2017.
Firmenich is the world’s largest privately-owned company in the fragrance and flavor business. Founded in Geneva, Switzerland, in 1895, it has created many of the world’s best-known perfumes and flavors that billions of consumers enjoy each day. Its passion for smell and taste is at the heart of its success. It is renowned for its world-class research and creativity, as well as its thought leadership in sustainability and
exceptional understanding of consumer trends. Each year, it invests 10% of its turnover in R&D, reflecting its continuous desire to understand, share and sublimate the best that nature has to offer. Firmenich had an annual turnover of 3.2 billion Swiss Francs at end June 2016.
Headquartered in Piscataway, New Jersey, Agilex is a leading provider of fragrance compounds and delivery systems serving mid-sized customers. The company possesses leading creative and technical capabilities for the customers it serves, which are primarily manufacturers of Air Care, Home Care, Personal Care, Fine
Fragrance and Industrial & Institutional products throughout the United States. Since December 2012 Agilex Fragrances has been part of the portfolio of companies owned by MidOcean Partners, a premier private equity firm focused on consumer and business services. The company’s strategy is based on a combination of organic growth and acquisition. Additional information about Agilex is available at www.agilexfragrances.com