FIRMENICH ACQUIRES FLAVOUROME TO EXPAND ITS PRESENCE IN AFRICA
Geneva, Switzerland, December 13, 2017 – Firmenich is acquiring Flavourome, an established privately-held flavors company in South Africa that has been successfully serving the local market since 1998. With this acquisition, Firmenich will accelerate business growth in this strategic region by gaining direct access to new customers, while operating its own high performing manufacturing facility in South Africa.
“The Sub-Saharan Africa region, with its population of 800 million, represents a strategic growth market for Firmenich,” says Patrick Firmenich, Chairman of the Board, Firmenich. “As Firmenich has been operating in South Africa for 30 years, this acquisition is a natural extension of our commitment to building long-lasting customer partnerships in the region.”
“We are proud to have developed strong relationships with leading food companies in South Africa over the years that have supported our commitment to innovation and service. I am also tremendously grateful to all the Flavourome employees who have fueled our success,” David Wright, CEO, Flavourome. “Firmenich will be a great partner for our trusted customers and a great long-term home for our employees.”
“Building on Flavourome’s established business in South Africa, I am delighted to be expanding Firmenich’s capabilities in this strategic region,” said Gilbert Ghostine, CEO, Firmenich. “This milestone confirms our commitment to shape winning solutions for our customers in South Africa and beyond.”
Building on its longstanding operations in South Africa since 1988, this transaction accelerates Firmenich’s commitment to developing unique experiences suited to local market needs and preferences. It adds to the Group’s strategic commitment to grow in Sub-Saharan Africa, as evidenced by the recent launch of a state-of-the-art Flavors facility in Lagos, Nigeria with extensive product development laboratories.
The completion of this transaction is subject to clearance by the relevant regulatory authorities (including the Competition Commission) and is expected to close by March 2018.
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 3.34 billion Swiss Francs at end June 2017.