Symrise has submitted a binding offer to acquire fragrance house R. Romani - Société Française d’Aromatiques (SFA Romani), as well as Neroli Invest DL (Groupe Neroli).
With these transactions, Symrise intends to reinforce its fine fragrance presence in southern France, strengthen its competitiveness in the creation of fragrance compositions and broaden its presence in key countries in Europe, Africa and the Middle East.
The combined annual sales of SFA Romani and Groupe Neroli amount to more than €40 million. The closing of the transactions is expected in Q2 2022, subject to the approval of respective bodies and consultations of the works councils. The parties agreed to keep the purchase price confidential.
SFA Romani, founded in 1963 in Grasse, produces natural raw materials for fine fragrance formulation. SFA Romani is running a combined development and production site in Saint-Cézaire, Pays de Grasse. Symrise would acquire SFA Romani from its current owners, the Romani-Caruso family, Keensight Capital and Sofipaca.
Groupe Neroli consists of the companies Creations & Parfums and Floressence, both founded in the mid-1980s in St. Cezaire within Pays de Grasse. Floressence was acquired in 2017 and merged with Creations & Parfums in 2021. To build a strong position in natural fragrance ingredients, Groupe Neroli established long-term partnerships with local farmers for the sustainable cultivation of flowers in the Grasse area. Last November, Symrise had already announced a joint venture with Groupe Neroli. Now, the company decided to fully acquire the shares.
Ricardo Omori, global senior vice president, Fine Fragrance of Symrise AG, said, “These two acquisitions represent another step forward in strengthening Symrise's fine fragrance business and are fully in line with our strategic objective to accelerate our growth in this business area. With the transactions, we increase our access to high-quality natural ingredients, expand our customer base and strengthen our competitiveness through greater agility as well as a significantly enlarged fine fragrance team in the historical birthplace of perfumery in Europe, Pays de Grasse.”
Viviane and Charles Romani-Caruso, SFA Romani founders, said, “We are very proud of all that SFA Romani has achieved in 60 years as an independent company. We embody unparalleled know-how and quality in high-end fragrance compounds from Grasse. We are confident that the company and our brand will continue to flourish as part of the Symrise family. Joining Symrise is a unique opportunity for SFA Romani to take our business to new heights. We complement each other very well and both companies will benefit from each other to achieve our common goal of creating the fine fragrances of tomorrow.”
Christian Dussoullier, CEO of Neroli group, said, “We are very pleased about the offer to join such an important Group as Symrise. Customers and employees of Neroli will be in very good hands which will be most important for me.”