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Firmenich Closes Acquisition of French Ingredients Firm DRT
Friday 29 May 2020

Switzerland-based perfume and taste company Firmenich International SA has closed its acquisition of French ingredients company Les Dérivés Résiniques et Terpéniques, the company said.

DRT is in the development and supply of renewable and naturally-derived ingredients.

This acquisition will see Firmenich become a key player in renewable ingredients for perfumery and beyond.

Founded in 1932 and headquartered in Dax, France, DRT developed a unique, backward integrated business model over many decades, including access to sustainable raw materials, extraction and distillation capabilities and advanced innovation processes.

DRT will further strengthen Firmenich's already leading Perfumery and 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 and 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 EUR 550m, 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 is the world's largest privately-owned perfume and taste company, founded in Geneva, Switzerland, in 1895.

Firmenich had an annual turnover of CHF 3.9bn at end June 2019.

Founded in 1932, DRT specialises in the development of gum rosin and turpentine extracted from pine resin. DRT's head office is located in Dax, France and sells its products around the world.

DRT has a diversified product portfolio of more than 300 ingredients addressing a variety of end markets.

DRT operates nine manufacturing facilities either directly or with joint venture partners.
Date Published: 29/05/2020