Robertet gets investment from Peugeot and FSP after dsm-firmenich sells

dsm-firmenich has 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. Robertet manufactures natural raw materials for perfumes and aromas.

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). 

Jérôme Bruhat, managing director of Robertet, says: “The arrival of new shareholders, stable and confident in our project, constitutes a unique asset for the future success of Robertet. Their support will allow us to strengthen our leadership in natural raw materials, to increase our international presence, and to invest in ambitious projects serving our customers with high quality, innovative and durable products.”

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. 

Changing the stakes

The two new shareholders allow for the exit of capital from dsm-firmenich in a market transaction. The investment is the subject of agreements with Maubert, the company family holding control of Robertet, aiming to strengthen the governance, shareholder structure and independence of Robertet in the long term. 

The FSP and Peugeot Invest are intended to join the board of directors of Robertet as independent members, with the support of Maubert. Robertet aims to be more well known by the beauty market.

dsm-firmenich still retains a direct stake of 1% of Robertet’s share capital, which will be subject to a 60-day lockup undertaking from the settlement, subject to certain customary exceptions.

The company showcased twelve fragrances with a multi-sensory art exhibition with Future Bedouin and the Dubai Culture and Arts Authority at Beauty World 2024 Dubai, UAE, at the end of October.

Looking forward

Robertet manages the entire value chain, from ingredients to finished products destined for beauty, health and agri-food markets. Last year, the company achieved over €720 million (US$762 million) in turnover, of which more than 80% were international.

President of Peugeot Invest, Robert Peugeot, concludes: “We are pleased to participate in restructuring Robertet’s capital, which opens a new stage in its history. Our DNA as a long-term family investor allows us to support the ambitious development of Robertet, which is driven by the team led by Jérôme Bruhat.”

“As a member independent of the board, Peugeot Invest will bring its corporate experience… to support the efforts initiated in recent months by management to make Robertet better known and valued by the market.”

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.