Swiss flavor house Firmenich has reached an agreement to take a minority stake in Robertet, a French fragrance and flavor manufacturer that specializes in natural raw materials. The stake represents approximately 17 percent of the share capital, at a price of €683.30 (US$747) per security.
“Firmenich has the greatest respect for Robertet, with its family values, long term vision of the industry and leading capabilities in natural ingredients,” says Patrick Firmenich, Chairman of the Board. “As a long-term oriented shareholder, this investment reflects Firmenich’s commitment to best support Robertet’s continued growth.”
“With its strong naturals portfolio in perfumery, flavors and ingredients, Robertet is well positioned to benefit from consumers’ continued demand for authentic natural products,” adds Gilbert Ghostine, CEO of Firmenich. “This investment is fully in line with our vision for sustainable and natural solutions.”
Firmenich is prepared to be a passive long-term shareholder of Robertet alongside the Maubert Family. The flavor house is also open to discussions for a larger participation or establishing a broader collaboration to support the long-term goals of the company. Should it be invited to do so, the company has announced that it may also consider taking a controlling interest in Robertet.
Firmenich has filed a declaration of crossing of thresholds and statement of intent with the stock market regulator Autorité des Marchés Financiers (AMF) in accordance with applicable regulations.
The acquisition of stake in Robertet is in line with Firmenich’s core values of sustainable sourcing. Through its Naturals Center of Expertise in Grasse, the company actively implements the Union for Ethical Bio Trade’s (UEBT) standard and their risk-based approach of ethical sourcing. This standard has enabled Firmenich to strengthen its responsible sourcing practices within its natural ingredients value chains.
In addition, the company is a founding member of OP2B, an initiative to enhance biodiversity in agricultural supply chains, and is determined to restore biodiversity for people and the planet through this coalition which aims to step up alternative agriculture practices to protect and restore biodiversity across supply chains and product portfolios.
“Business is expected to play a vital role to reverse biodiversity loss. Firmenich ensures a highly responsible and traceable supply chain for our natural ingredients, making a real difference. We are improving the livelihoods of more than 250,000 farmers around the world and this is just the beginning,” concludes Ghostine.