Symrise expands to European “birthplace of perfumery” with SFA Romani and Groupe Neroli acquisition

23 Mar 2022 --- Fragrance specialist Symrise has submitted a binding offer to fully acquire R Romani – Société Française d’Aromatiques (SFA Romani) and Neroli Invest DL (Groupe Neroli), both specialists in high-end fine fragrances in Grasse, the French perfume capital. 

“Fine fragrance has formed a strategic investment area for us during the last years. This investment reinforces our commitment to continue to invest in the future. The acquisitions of SFA and Neroli represent the next step of Symrise in the direction to serve our customers better globally,” Ricardo Omori, SVP global fine fragrance at Symrise, tells PersonalCareInsights.

“These two acquisitions represent another step forward in strengthening Symrise’s fine fragrance business and are fully in line with our strategic objective to accelerate our growth in this business area.” 

The transaction is expected to close in the second quarter of 2022. The purchase price is to be kept confidential. 

“With the transactions, we increase our access to high-quality natural ingredients, expand our customer base and strengthen our competitiveness through greater agility and a significantly enlarged fine fragrance team in the historical birthplace of perfumery in Europe, Pays de Grasse,” continues Omori.

On the question of the strategic choice of Grasse, Omori says: “The acquisitions add to our access to the best natural fragrance ingredients. They increase our access to the know-how of the south of France.”The combined annual sales of SFA Romani and Groupe Neroli amount to more than US$43M.

Expanding ambitions
Symrise explains that it aims to strengthen its fine fragrance presence in Southern France. This entails stronger competition to compose new fragrances. 

The company also hints at its desire to broaden its presence within key countries in Europe, Africa and the Middle East. Omori explains its choice of locations: “Our customer portfolios complement each other and add to our existing customer base in those regions.”

The company previously expanded with a new plant in Spain, as it ramped up 1,2-alkanediols production. 

Furthermore, the expansion to Grasse will offer “opportunities” to customers and employees of SFA Romani and Groupe Neroli as Symrise determines to build a new growth platform with creation centers, production capacities and marketing teams. 

SFA Romani fragrance expertise
Viviane and Charles Romani-Caruso, SFA Romani founders offer expertise and know-how on high-end fragrance compounds from Grasse. 

The company is known internationally for its natural raw materials, fragrance creation and quality craftsmanship. 

“The company and our brand will continue to flourish as part of the Symrise family. We complement each other very well, and both companies will benefit from each other to achieve our common goal of creating the fine fragrances of tomorrow,” comments Viviane and Charles.

Furthermore, SFA Romani is co-developing a production site Saint-Cézaire, Pays de Grasse.

Symrise would acquire SFA Romani from the Romani-Caruso family, Keensight Capital and Sofipaca.SFA Romani was founded in 1963, and Creations & Parfums and Floressence were established in the mid-1980s. 

Collaboration with Groupe Neroli
“We are very pleased about the offer to join such an important Group as Symrise,” adds Christian Dussoullier, CEO of Groupe Neroli.

Additionally, Groupe Neroli consists of Creations & Parfums and Floressence, two companies in St. Cézaire, Pays de Grasse. Floressence was merged with Creations & Parfums in 2021 after the acquisition of Floressence in 2017.

To strengthen Groupe Neroli’s position in natural fragrance ingredients, the company has established long-term partnerships with local farmers cultivating sustainable flowers in Grasse. 

Last November, Symrise partnered with Groupe Neroli to advance its flowers and Mediterranean materials capabilities. Now Symrise has decided to acquire all the shares. 

Symrise’s awards and previous partnerships
Symrise received an award from the International Federation of Societies of Cosmetic Chemists for a scientific poster on its dragonise ingredient that protects the skin from blue light effects. 

Additionally, Symrise and Antofénol collaborated for clean beauty for the eco-extraction of natural products. It also debuted an improved multifunctional skincare liquid formula, SymSave 5E, with antioxidant and soothing properties.

The company also shared details on its flavor, scents and nutrition business due to the global economic recovery in 2021. 

By Venya Patel