Symrise expands its Fine Fragrance division with French acquisitions

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Symrise has submitted a binding offer to acquire the perfume house R. Romani – Société Française d’Aromatiques (SFA Romani), as well as Neroli Invest DL (Neroli Group).

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With these transactions, Symrise intends to strengthen its presence in fine perfumery in the south of France, strengthen its competitiveness in the creation of perfume compositions and expand its presence in key countries in Europe, Africa and the Middle East.

The combined annual sales of SFA Romani and the Neroli Group amount to more than 40 million euros. Closing of the transactions is expected in the second quarter of 2022, subject to approval by the respective bodies and consultations with the works councils. The parties have agreed to keep the purchase price confidential.

SFA Romani, founded in 1963 in Grasse, produces natural raw materials for the formulation of fine perfumes. SFA Romani operates a mixed 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.

The Neroli Group is made up of the companies Créations & Parfums and Floressence, both founded in the mid-1980s in Saint-Cézaire in the Pays de Grasse. Floressence was acquired in 2017 and merged with Créations & Parfums in 2021. To build a strong position in natural fragrance ingredients, the Neroli Group has established long-term partnerships with local farmers for the sustainable cultivation of flowers in the region. Grasse region. Last November, Symrise had already announced a joint venture with Groupe Neroli. Now the company has decided to acquire all of the shares.

Ricardo Omori, Global Senior Vice President, Fine Fragrance of Symrise AG, said: “These two acquisitions represent another step in strengthening Symrise’s fine fragrance business and are fully in line with our strategic objective to accelerate our growth in this line of business. With these transactions, we are increasing our access to high-quality natural ingredients, expanding our customer base and strengthening our competitiveness through greater agility as well as a significantly expanded fine fragrance team in the historic birthplace of perfumery in Europe, the Pays de Grasse.

Viviane and Charles Romani-Caruso, founders of SFA Romani, said: “We are very proud of all that SFA Romani has achieved in 60 years as an independent company. We embody unparalleled craftsmanship and quality in Grasse’s premium fragrance compounds. We are confident that the business and our brand will continue to thrive within 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 the Neroli Group, said: “We are very pleased with the offer to join such an important group as Symrise. Neroli’s customers and employees will be in very good hands, which will be most important to me. »

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