dsm-firmenich offloads Robertet, finalizing sale of aromas manufacturer

dsm-firmenich has completed the sale of its last bit of stake in Robertet to a currently unknown investor and no longer retains any ordinary shares in Robertet. Robertet manufactures natural raw materials for perfumes and aromas. 

Earlier this week, dsm-firmenich still retained a direct stake of 1% of Robertet’s share capital.

The company describes the investor as a “long-term, non-institutional.” Robertet was released through a bilateral sale that is subject to a 60-day lockup undertaking.

The Dutch company previously sold 0.23 million ordinary shares in Robertet, representing 10% of Robertet’s share capital to the Fonds Stratégique de Participations (FSP) and Peugeot Invest. 

The FSP, managed by Investissements à Long Terme and Peugeot Invest, each paid €125 million (US$132.2 million) for a 7.1% stake of capital Robertet. This sum is broken down into a block of ordinary shares (4.9% of the capital) and investment certificates (2.2% of the capital). 

In response to “strong demand,” the fragrance and taste company sold 0.135 million Robertet ordinary shares through Firmenich International, up from 0.12 million initially.

The placement was made for €850 (US$899.08) per share, for a total gross amount of €115 million (US$121.67 million), representing 6% of Robertet’s share capital. It was conducted through an accelerated bookbuild offering to qualified investors only.

Earlier this month, Robertet announced its acquisition of US-based Phasex Corporation, a specialist in CO2 extraction. The move aimed to strengthen Robertet’s presence in North America and enhance its ability to offer local production to American clients.