FIRMENICH COMPLETES ACQUISITION OF AGILEX FRAGRANCES
Geneva, Switzerland, July 11th, 2017 – Further to the announcement dated June 14th, 2017, Firmenich is pleased to confirm that it has successfully completed the acquisition of 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.
“We are pleased to formally welcome Agilex Fragrances to the Firmenich Group,” said Patrick Firmenich, Chairman of the Board, Firmenich. “We look forward to working together to design world-class fragrance solutions for mid-sized customers.”
“I look forward to putting our global creativity and innovation capabilities to work to open up new opportunities for Agilex and their customers," added Gilbert Ghostine, CEO Firmenich.
Financial terms of the deal have not been disclosed.
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.