Ingredients buy for Firmenich
Geneva-based Firmenich, the world's largest privately owned flavours and fragrances house, has agreed to acquire pine chemicals supplier DRT (Dérivés Résiniques et Terpéniques) from Ardian, Tikehau Capital and family shareholders on undisclosed terms. This remains subject to consultation with employee representatives and regulatory approvals.
DRT turns over more than €550 million/year, and employs 1,500+ people at sites in France, the US, India and China. The company specialises in naturally derived and renewable ingredients from terpenes and rosin derivatives from pine trees, into which it is back-integrated. It has already been a supplier and joint venture partner to Firmenich for many years.
CEO Gilbert Ghostine commented that DRT would strengthen Firmenich’s Perfumery & Ingredients business and make it a major player in renewables, while also bringing in “new capabilities in health and nutrition, cosmetics, as well as a number of new markets, including adhesives, coatings and agriculture. France is already Firmenich’s second largest market.