Givaudan expands in Latin America with stake in Brazilian fragrance house

Givaudan has announced it will acquire a majority stake in Brazilian fragrance manufacturer Vollmens Fragrances as part of its strategy to strengthen regional growth in Latin America and better serve local customers. 

While financial terms were not disclosed, Givaudan notes that Vollmens’ business would have contributed around CHF 25 million (US$ 31.25 million) in sales to its 2024 results on a pro forma basis.

The deal is expected to close in the second half of 2025 and will be funded through existing resources. Givaudan has the option to increase its shareholding in the future.

Vollmens creates fragrances for personal care, fine fragrances, fabric and home care, and pet care markets across Latin America, Central America, Africa, and North America.

Givaudan aims to tap into Vollmens’ agility, customer focus, and regional market expertise through this acquisition.

As part of the deal, Vollmens’ founding family members and current co-presidents, Nestor Francisco Mendes and Rinaldo José Mendes, will continue leading the business. The companies plan to maintain a close partnership that combines Givaudan’s global infrastructure with Vollmens’ local knowledge.

“This partnership will also further strengthen our business in the high-growth markets of Latin America, and we look forward to building a bright future together with the Mendes family,” says Gilles Andrier, CEO of Givaudan.

“Latin America is a dynamic, high-growth market with specific needs and good potential for growth.”Focus on Latin America

The move aligns with Givaudan’s 2025 plan to deepen its footprint in high-growth markets, particularly Latin America. The acquisition gives Givaudan direct access to a growing segment of mid-sized customers in the region.

Personal Care Insights previously spoke with Mauro Patrus, regional head of Consumer Products LATAM at Givaudan, about the region’s potential. “Latin America is a dynamic, high-growth market with specific needs and good potential for growth.”

“This is an important region for us, and our different creative teams work hand in hand with our customers and local partners to innovate and offer fragrance and beauty solutions that enhance local consumers’ daily lives. This region is also a great source of inspiration for leveraging our local innovations for other markets worldwide,” Patrus said.

However, despite the region’s vibrant beauty culture, many consumers across Latin America still lack tailored beauty solutions. Mainstream brands often overlook the region’s cultural diversity and specific product expectations — leaving gaps in formulation, representation, and accessibility.

As awareness of these unmet needs grows, Latin America is experiencing a wave of international investment in developing localized, high-value offerings.

Among these, Unilever recently announced a US$1.5 billion investment to expand its beauty and personal care operations in Mexico — underscoring rising confidence in the region’s long-term potential.

Meanwhile, brands are increasingly looking to Latin America beyond a consumer growth market, but also as a nearshoring base for manufacturing. This strategic shift helps reduce lead times, improve supply chain resilience, and enables faster, more localized product development in response to evolving customer demands.