Croda subsidiary completes fragrance business acquisition

Croda International’s HQ

Croda International’s fragrances and flavours subsidiary Iberchem has accomplished the acquisition of French fragrance business Parfex.

Established in 1985 and now using 75 individuals, Parfex creates fragrances principally for premium private care and advantageous perfumery markets, leveraging the pure uncooked supplies which are obtainable within the area. The business sells its fragrances in additional than 50 nations worldwide.

Parfex is 82 per cent owned by its founders with the remaining free float of shares listed on the Euronext Access market.

Following the announcement of the deal in April, Croda has now accomplished the acquisition of 95.6 per cent of Parfex’s excellent shares, comprising the founding shareholders and sure minority buyers.

It in the end expects to accumulate 100 per cent of the full excellent share capital, topic to a possible tender supply and subsequent de-listing.

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