German flavor and fragrance company Symrise has signed a put option agreement to acquire Floral Concept, a French natural ingredients house for fragrances. Floral Concept is headquartered in Saint-Cezaire-sur-Siagne in the Grasse region of France.
Symrise said the deal would be a milestone in its strategy to build a leading position in premium natural fragrance ingredients, which it sees as an important source of differentiation in fine fragrance.
Floral Concept was founded in 2002 and sources and transforms natural raw materials into fragrance ingredients.
With Floral Concept and its existing naturals business for fragrances Maison Lautier 1795, Symrise plans to establish a Naturals cluster in Grasse dedicated to fragrance, which it says will combine complementary capabilities across responsible sourcing, extraction, transformation and fragrance creation.
“Together, we have created an opportunity to expand creative and technical possibilities in premium natural ingredients. By combining Floral Concept’s sourcing and extraction expertise with Maison Lautier’s heritage of innovation, we will create a new benchmark for creativity, quality, and sustainability in perfumery,” explains Ricardo Omori, President Global Fragrance Division at Symrise.
In 2022, Symrise acquired Grasse-based fragrance houses SFA Romani and Groupe Neroli in a bid to strengthen its fine-fragrance business in the south of France and its access to natural fragrance ingredients.
Symrise expects to close the Floral Concept transaction in the third quarter. Financial details were not released.