Firmenich International, the world’s largest privately-owned perfume and taste company, has announced its acquisition of Les Dérivés Résiniques et Terpéniques (DRT).
Founded in 1932, DRT is a developer and supplier of renewable and naturally-derived ingredients. It specialises in the development of gum raisin and turpentine extracted from pine risen. DRT’s head office is located in Dax, France and sells its products around the world.
“We are delighted to have closed this acquisition which will give us a significant competitive advantage moving forward,” said Gilbert Ghostine, CEO, Firmenich.
“This acquisition affirms our commitment to becoming a global leader in renewable ingredients as we meet the growing demand for sustainable products in Perfumery and beyond. Above all, we look forward to working with our long-time partners and welcoming all DRT employees to our company.”
Firmenich said DRT will further strengthen its already leading Perfumery & Ingredients business, enabling the Company to offer its customers the world’s best selection of renewable and sustainable ingredients.
DRT will also bring new capabilities in health & nutrition, cosmetics, as well as a number of new markets, including adhesives, coatings, and agriculture. The acquisition reinforces Firmenich’s presence in France, its second-largest market.
DRT has a turnover in excess of €550 million, employs more than 1,500 people around the world and operates through a global footprint with four production sites located in France, two in the USA, two in India and one in China.
Firmenich announced that it had entered into exclusivity with Ardian, Tikehau Capital, and family shareholders to acquire the company on March 6, 2020. Consultation with the relevant employee representatives and the required customary approvals by the antitrust authorities have been obtained since then, and the acquisition has now closed.
Firmenich has designed many of the world’s best-known perfumes and tastes, bringing delight to over four billion consumers every day. Renowned for its world-class research and creativity, as well as its leadership in sustainability, each year, Firmenich invests 10% of its turnover in R&D to understand and share the best that nature has to offer responsibly. – BusinessNewsAsia.com