Givaudan set to top fragrance market with purchase of Quest

By Louise Prance

- Last updated on GMT

Swiss flavours and fragrance manufacturers, Givaudan, has bought
Quest International, a move that consildates Givaudan stance as
market leaders within the fragrance industry.

The agreement is expected to be finalised in the first quarter of 2007 following approval from shareholders of Imperial Chemical Industries (ICC), the UK firm that owns Quest International.

'This is an outstanding opportunity for Quest. Givaudan has an aspiring and long history in fragrance creation. We will be joining the most respected and profitable business in our industry and creating a clear market leader'​ said Isabelle Parize, Group VP at Quest.

Quest International, based in the Netherlands, will be sold for £1.2 billion (€1.77 billion), financed by debt and future equity insurance. Gaining Quest automatically makes Givaudan the main competitors as market leaders within the flavours and fragrance industry, rivalled only by US group IFF and Swiss supplier Firmenich.

In 2006 joint earnings for both companies came in at €3.15 billion of which 44 per cent were made up of fragrance sales: demonstrating the dynamic role they both take within the industry.

Parize stated: "The combined businesses provide a powerful innovation platform and we are delighted about the extra value we will be able to offer our clients. "

Both companies hope to capitalise on each other's specific strengths, including Quest's extensive consumer and sensory understanding and Givaudan's merger looks set to challenge the industry further and drive forward the need for innovative fragrance and flavours.

The acquisition of Quest will give Givaudan the incentive to aggressively promote their presence in high-growth, emerging markets such as China, Latin America, Eastern Europe, Africa and the Middle East.

Despite some industry observers expressing surprise at the merger due to the recent restructuring measures of Quest, implemented by ICC, Givaudan is hoping to benefit from the extensive list of clients Quest has in its portfolio and extend its presence with the fragrance industry.

Related news

Show more

Related products

show more

Ithos Ingredient Screening PDF Snapshot

Meet Compliance with Ithos Ingredient Screening

Ithos Global, Inc. | 18-Sep-2017 | Product Brochure

View how Ithos Ingredient Screening lets companies see where their formula ingredients are compliant, restricted or prohibited. With nearly 60 countries...

Regulatory Compliance - Ithos Ingredient Screening

Regulatory Compliance - Ithos Ingredient Screening

Ithos Global, Inc. | 11-Sep-2017 | Product Brochure

Find out more about Ithos Ingredient Screening, a comprehensive regulatory report that allows companies to see where their formula ingredients are compliant,...

Innovating for a sustainable future

Innovating for a sustainable future

Croda Europe Ltd | 28-Aug-2017

For Croda, sustainability means doing business the right way: environmentally, socially and financially. Innovation is at the fore front of our endeavours,...

Sustainability: Don’t Get Left Behind

Sustainability: Don’t Get Left Behind

Croda Europe Ltd | 09-Aug-2017

Pressure from consumers, governments and non-governmental organisations for companies to adopt more sustainable business practices has never been stronger...

Related suppliers