Swiss flavor and fragrance company Givaudan is to acquire a majority stake in Brazilian fragrance house Vollmens Fragrances.
Vollmens Fragrances, which was founded in 2004, is based in Saltinho, Brazil, and operates across Latin America, Central America, Africa and North America. The company employs 180 people and is present in the fine perfumery, personal care, homecare and pet care markets.
Vollmens Fragrances’ founding family executives, Nestor Francisco Mendes and Rinaldo José Mendes, will continue to lead the company.
Under the terms of the agreement, Givaudan and the founding family of Vollmens have the option to further increase Givaudan’s shareholding.
The move is part of Givaudan’s strategy to expand its presence with local and regional customers. It is also aimed at reinforcing the company’s business in Latin America.
Financial details were not released, but Givaudan said that Vollmens Fragrances business would have represented around CHF25m ($31m) of incremental sales to its results in 2024 on a proforma basis.
Givaudan plans to fund the transaction from existing resources and the deal is expected to close in the second half of 2025.