Vollmens Fragrances, which is based in Saltinho in Brazil, operates across the LATAM region as well as in Central America, Africa and North America.
According to Givaudan’s CEO Gilles Andrier, the move fits with the company’s 2025 strategy to expand its global presence.
“This partnership will further strengthen our business in the high growth markets of Latin America and we look forward to building a bright future together,” said Andrier.
The terms of the deal have not been disclosed, but Givaudan said that Vollmens Fragrances business would have represented approximately CHF 25 million of incremental sales to Givaudan’s results in 2024 on a proforma basis.
The Swiss fragrance company said it plans to fund the transaction from existing resources and the transaction is expected to close in the second half of 2025.
President of Givaudan’s Fragrance & Beauty Maurizio Volpi said that acquiring Vollmens Fragrances will bring expertise to Givaudan in serving the fast-growing mid-sized customer segment in Latin America.
“Through the partnership we have created with the current owners, we will leverage the complementary capabilities of both Givaudan and Vollmens to offer a winning proposition for customers and partners across the region,” Volpi shared.
LATAM a high growth region for fragrance
According to Givaudan’s marketing and innovation director, Renata Abelin, LATAM remains a high-growth region that’s very important for the fragrance market, along with Southeast Asia and the Middle East.
“That is why it is important for us to strengthen our presence there,” she said.
“Brazil’s Fragrance market, according to Euromonitor (in value), is the second biggest market in the world. (USA is 1st) having a CAGR of 9% per year till 2028,” she continued.
Abelin noted that the Brazilian people are generally “fragrance lovers by heart due to cultural and social values; fragrances are very important in all aspects of Brazilians daily lives.”
“The investment in local and regional companies will expand even more our audience in the local market,” she said.
