Swiss fragrance and flavor company Firmenich said Friday that it entered into an agreement to purchase Les Dérivés Résiniques et Terpéniques (DRT), a maker of plant-based ingredients for perfume products and other applications, from Ardian, Tikehau Capital, and other shareholders.
“DRT would further strengthen our leading Perfumery & Ingredients business, enabling us to offer our customers the world’s best palette of renewable and sustainable ingredients,” the chief executive officer of Firmenich, Gilbert Ghostine, said in a company press release. “DRT would bring new capabilities in health & nutrition, cosmetics, as well as a number of new markets, including adhesives, coatings, and agriculture.”
The acquisition of DRT will bolster Firmenich’s position in France, the company’s second largest market. DRT employs about 1500 workers and operates four manufacturing facilities in France, two in the US, two in India, and one in China. Established in 1932, the company produces ingredients from terpenes and rosin derivatives.
“We share a long-standing relationship with Firmenich, as it is one of our main partners,” DRT CEO Laurent Labatut said in a statement. “Firmenich is renowned for its cutting-edge research that feeds into the broadest and finest ingredients palette. Our joint innovation capabilities would open up new opportunities
Firmenich did not offer details on the financial terms of the transaction. The company said it must work with relevant employee representatives and the deal must clear antitrust regulators before the transaction closes.
Last September, Powder & Bulk Solids reported that Firmenich acquired a minority stake in Robertet, a French firm that manufactures fragrances and flavors from natural raw materials. The company said the move positioned it to meet future demand for natural ingredients.
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