Swiss fragrance and flavor company Givaudan announced on Friday, June 27, that it is expanding its footprint in Latin America by acquiring a majority stake in Brazilian firm Vollmens Fragrances.
As part of the transaction, the Swiss group has inked a deal with the Vollmen’s founding family. Under the terms of the agreement, Givaudan will have the option to further increase its stake in the future. Nestor Mendes and Rinaldo José Mendes, the current CEOs, will remain at the helm of Vollmens, Givaudan stated in a press release.
Operating since 2004, Vollmens Fragrances specializes in the creation of perfumes. Based in Saltinho, São Paulo, the company employs 180 people and operates in South America, as well as in Central America, North America, and Africa.
The acquisition is aimed at supporting Givaudan’s growth in fine fragrances, personal care, fabric and home care, as well as in pet care, highlighted the group.
“Vollmens Fragrances will bring expertise to Givaudan in serving the fast-growing mid-sized customer segment in Latin America,” said Maurizio Volpi, President of Givaudan’s Fragrance & Beauty.
Givaudan, which creates fragrances for leading perfume brands like Christian Dior and Prada, as well as scents for hygiene products, laundry detergents, and other consumer goods, did not provide details on the amount of the transaction or the exact size of the stake acquired.
To give a sense of scale, Givaudan noted that Vollmens Fragrances would have contributed approximately CHF 25 million (EUR 26.7 million) in additional revenue based on its 2024 results.
Last year, Givaudan, which also manufactures flavors for the food industry, achieved sales of CHF 7.4 billion (EUR 7.9 billion at current exchange rates).
The group said it plans to fund the transaction, which is expected to close in the second half of 2025, from existing resources.
