Givaudan to merge with Belgian specialty chemicals player

By Louise Prance

- Last updated on GMT

Related tags: Flavor, Givaudan

Givaudan has gone to new lengths to consolidate its lead within the
fragrance industry, with the announcement of a joint venture with
ChemCom to create a new company that will 'focus on the discovery
and delivery of innovative fragrance ingredients'.

The Swiss-based global fragrance and flavours giants will merge with the Belgium based chemicals manufacturer to create a new company, TecnoScent, at the beginning of April. Peter Wullschleger, head of corporate communications and investor relations for Givaudan told CosmeticsDesign-Europe that, "The new partnership will strengthen our already strong R+D based company in terms of innovation -sustaining and further enhancing our leadership in the industry". "It will also enable us to better understand smell and taste in order to discover and create novel and ground-breaking fragrances". The new company will draw on ChemCom's proprietary receptor technology in order to further strengthen Givaudan's sensory innovation and technology platform, whilst also creating a partnership that will aims to lead the way in the fragrance manufacturing. Both companies signed the agreement earlier this week, stating that the new centre would initially be based in Brussels and combine biotechnology with leading fragrance experience. Wullschleger also said that the merger could possibly increase employment prospects in the area, dependant on the future success of the project, "the joint venture will start with over a dozen researchers, however, if successful the base will grow - opening up more job opportunities". Givaudan is developing in all aspects of its business, with its flavours segment recently entering into a research and licensing agreement with taste technology developer Redpoint Bio Corp, which is expected to build the company's TasteSolutions programme for health and wellness. Under the new collaboration the firm gains access to US-based Redpoint Bio's proprietary technologies, and may acquire the exclusive worldwide rights to any licensed compounds for foods and beverages that can aid manufacturers with products.

Related topics: Business & Financial, Fragrance

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