Firmenich has acquired a 17% minority stake in flavours and fragrance firm Robertet from First Eagle Investment Management, for a price of €683.30 per security.
France-based Robertet produces a wide range of flavours for customers in the food industry, and operates 15 manufacturing sites around the world.
Firmenich said in a statement that it may consider taking a controlling interest in the company ‘should it be invited to do so’, though also stated that it was willing to be a passive long-term stakeholder in Robertet for the time being.
Patrick Firmenich, chairman of the board of Firmenich said: “Firmenich has the greatest respect for Robertet, with its family values, long term vision of the industry and leading capabilities in natural ingredients.
“As a long-term oriented shareholder, this investment reflects Firmenich’s commitment to best support Robertet’s continued growth.”
Gilbert Ghostine, CEO, Firmenich added: “With its strong naturals portfolio in Perfumery, Flavors and Ingredients, Robertet is well-positioned to benefit from consumers’ continued demand for authentic natural products.
“This investment is fully in line with our vision for sustainable and natural solutions.”
This latest purchase follows the company’s acquisition of a minority stake in China-based flavours firm ArtSci in June, which boosted its presence in the Chinese market.
© FoodBev Media Ltd 2022
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry. Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial
Your privacy We use small files known as ‘cookies’ to enhance your experience of the FoodBev website and analyse site-traffic. Read about how we use cookies or how you may control them in our updated privacy policy and cookie policy. If you continue to use this site, you consent to our use of cookies. Click the ‘OKAY‘ button at the top right of this panel to accept or click here for more information.