CREATIONS & PARFUMS announces the acquisition of FLORESSENCE, subsidiary of ELIXENS SA.
Both French fragrance creation houses are located in the same area, Saint-Cézaire-sur Siagne (06), in the region of Grasse, France. FLORESSENCE and CREATIONS & PARFUMS are very similar in size and profitability.
With this acquisition, the new Group wants to create a coherent establishment of a significate size in the world of fragrance compounds, the ensemble with geographical proximity, thus facilitating integrations of both teams. FLORESSENCE also offers a land reserve providing opportunities for industrial expansion.
FLORESSENCE brings along strong international positions in Russia, Europe and Asia which will complement the ones of CREATIONS & PARFUMS in Africa and the Middle East. This geographical client portfolio will reinforce the Group’s position in already highly competitive markets. The owners confirmed their intention to keep the FLORESSENCE employees and both legal entities will remain separated.
CREATIONS & PARFUMS has been achieving robust double-digit growth for the past five years and needs to strengthen its development capacity as well as its industrial facilities. The FLORESSENCE acquisition will bring new business perspectives to the new ensemble. The future Group targets consolidated revenues of 40 M€ in the midterm.