The Swiss company Givaudan has announced the acquisition of a quarter share in the Italian company b.kolormakeup & skincare, based in Milan.
The flavor and fragrance company has decided to further strengthen its presence in the cosmetics and skincare market. Givaudan is acquiring a 25% stake in the Italian company b.kolormakeup & skincare.
This acquisition is a sign of the number one perfume company’s desire to diversify its activities and expand into other sectors. The company, founded in Zurich in 1895, employs nearly 15,800 people at more than 181 locations.
“By sharing our creative and innovation capabilities, we will be able to generate additional value for our respective customers by presenting a complete offering combining high-level scientific knowledge, design excellence and end-to-end manufacturing,” said Maurizio Volpi, President of Givaudan Perfumes and Beauty.
If this new combination of the two companies is beneficial to Givaudan, which could benefit from better production capacities and accelerate the time to market of its products, this acquisition is also very useful to the Italian group b.kolormakeup & skincare.
Indeed, the cosmetics and skincare specialist will now have access to Givaudan’s ingredient palette and will be allowed to use its patented innovations, notably in perfumery.
“Givaudan’s creative, ingredient and technology capabilities will greatly assist us in evolving our product offering and we will also benefit from Givaudan’s customer base and geographic presence to access new territories. We are also very pleased to share with Givaudan our unique know-how in creation, design and production to bring tomorrow’s products to market“, says Maria-Teresa Sancini, President of b.kolor.
The Italian company b.kolormakeup & skincare realizes 75% of its turnover abroad, and has a large and varied clientele, including some international companies. Each year, the group designs more than 250 products, manufactured in their two factories in Treviglio.
The agreement signed by the two groups also mentions the possibility for Givaudan to take majority control of b.kolormakeup & skincare within three years.
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