Givaudan acquires majority stake in Vollmens Fragrances
Givaudan has completed its acquisition of a significant stake in Vollmen Fragrances, a Brazilian fragrance house located in São Paulo.
“Thanks to their [Vollmens] great creativity and knowledge of the local market, this partnership will further strengthen our business in the high-growth markets of Latin America, and we look forward to working together,” says Gilles Andrier, CEO of Givaudan.
The deal underpins Givaudan’s strategy to expand its presence among local and regional customers in North, Central, and Latin America, as well as Africa.
Givaudan says the terms of the deal will not be disclosed, but shares that Vollmens Fragrances’ business would have represented approximately CHF25 million (US$31 million) of incremental sales to Givaudan’s results in 2024 on a pro forma basis.
The acquisition will be funded from existing resources, and the agreement’s terms allow for a potential future increase in Givaudan’s shareholding.
Maurizio Volpi, president of Givaudan’s Fragrance and Beauty, says: “This is a great achievement for Givaudan to complete this acquisition, marking the beginning of a promising new chapter.”
“By combining our creative and innovation capabilities, we will leverage the complementary strengths of both Givaudan and Vollmens Fragrances to deliver the best fragrances for customers and partners across the region.”
Givaudan says this acquisition aims to tap into Vollmens’s agility, customer focus, and regional market expertise.Regional expertise
The completion follows an announcement in June this year, where the company confirmed that the deal would close in the second half of 2025. Givaudan said this acquisition aims to tap into Vollmens’s agility, customer focus, and regional market expertise.
Nestor Mendes and Rinaldo José Mendes, founders and co-CEOs of Vollmens Fragrances, say, “We are delighted to join Givaudan, a company that shares our commitment to innovation and excellence in the fragrance industry.”
“Together, we will combine our local knowledge with their global expertise, reaching customers across Brazil and further afield.”
In its Q2 financial report this year, Givaudan reported that its share price dropped 6% in morning trade after it reported organic sales growth of 5.2%, falling short of analyst expectations of 6.4%. It pointed to currency pressures, particularly the strength of the Swiss franc, as a key challenge.
Meanwhile, its Fragrance & Beauty division delivered CHF 1.95 billion (US$2.63 billion) in sales in H1 2025, up 8.6% like-for-like.
Despite headwinds from tariffs and investment-related cash flow delays, the company remained optimistic and reaffirmed its five-year growth targets.
