Givaudan Acquires Majority Stake in Brazil's Vollmens

Givaudan, the Swiss fragrance and flavor giant, announced on June 27, 2024 that it has signed an agreement to acquire a majority stake in Brazil's Vollmens Fragrances to expand its market presence in Latin America. The transaction supports its growth in high-end fragrances, personal care, home and fabric care, and pet care.

Founded in 2004 and headquartered in Saltinho, São Paulo, Vollmens specializes in perfume blending, has approximately 180 employees, and operates in South America, Central America, North America and Africa. After the transaction is completed, current CEOs Nestor Mendes and Rinaldo José Mendes will continue to lead the company's operations.

Givaudan said the transaction will strengthen its ability to serve mid-sized customer bases in Latin America, and it is expected that Vollmens will bring it approximately 25 million Swiss francs in new revenue based on its 2024 financial performance. The transaction amount and share size were not disclosed, and the funds will be supported by Givaudan's existing resources, and the delivery is expected to be completed in the second half of 2025.