Firmenich buys its SA agent, Flavourome
Firmenich, the world’s largest privately-owned company in the fragrance and flavour business, is acquiring Flavourome, its long-time agent in South Africa. No value to the deal has been mentioned.
FLAVOUROME was started by David Wright (left) and remains privately-held. It has successfully been serving the local market since 1998.
“With this acquisition, Firmenich will accelerate business growth in this strategic region by gaining direct access to new customers, while operating its own high performing manufacturing facility in South Africa,” says the Firmenich press release.
“The Sub-Saharan Africa region, with its population of 800 million, represents a strategic growth market for Firmenich,” says Patrick Firmenich, chairman of the board, Firmenich.
“As Firmenich has been operating in South Africa for 30 years, this acquisition is a natural extension of our commitment to building long-lasting customer partnerships in the region.
“We are proud to have developed strong relationships with leading food companies in South Africa over the years that have supported our commitment to innovation and service. I am also tremendously grateful to all the Flavourome employees who have fueled our success,” says David Wright, CEO, Flavourome.
“Firmenich will be a great partner for our trusted customers and a great long-term home for our employees.”
“Building on Flavourome’s established business in South Africa, I am delighted to be expanding Firmenich’s capabilities in this strategic region,” said Gilbert Ghostine, CEO, Firmenich.
“This milestone confirms our commitment to shape winning solutions for our customers in South Africa and beyond.”
Building on its longstanding operations in South Africa since 1988, this transaction accelerates Firmenich’s commitment to developing unique experiences suited to local market needs and preferences.
It adds to the Group’s strategic commitment to grow in Sub-Saharan Africa, as evidenced by the recent launch of a state-of-the-art flavours facility in Lagos, Nigeria with extensive product development laboratories.
The completion of this transaction is subject to clearance by the relevant regulatory authorities (including the Competition Commission) and is expected to close by March 2018.
May, 2013: It has been said that most people miss or forego opportunity because it invariably arrives at the door dressed in heavy-duty blue overalls. David Wright is not one of them. Started from scratch 15 years ago, Wright’s Midrand-based company, Flavourome, is today one of the leading local flavour companies – and has every reason to be celebrating this company milestone….306 Views