Givaudan, the global leader in fragrance and beauty, has reached an agreement to acquire a majority stake in Vollmens Fragrances Ltda, a Brazilian fragrance house. Operating since 2004, Vollmens Fragrances Ltda is based in Saltinho (Brazil) and operates across the Latin American region as well as Central America, Africa and North America.

The company employs 180 professionals who are committed to serve the market with a strong focus on customers and on delivering creative and high-quality products, with agility, flexibility, and excellence. The creation of a strong partnership between Givaudan and the founding families of Vollmens will provide a strong platform for growth, an exciting proposition for the customers and employees and other stakeholders of both companies. The founding family executives, Nestor Francisco Mendes and Rinaldo José Mendes, will continue to lead Vollmens going forward, as part of the agreement with Givaudan.

Gilles Andrier, CEO of Givaudan said: “Acquiring a majority stake in Vollmens Fragrances fits perfectly with our 2025 strategy to expand our presence with local and regional customers. This partnership will also further strengthen our business in the high growth markets of Latin America and we look forward to building a bright future together with the Mendes family.”

Maurizio Volpi, President of Givaudan’s Fragrance & Beauty said: “Vollmens Fragrances will bring expertise to Givaudan in serving the fast-growing mid-sized customer segment in Latin America. Through the partnership we have created with the current owners, we will leverage the complementary capabilities of both Givaudan and Vollmens to offer a winning proposition for customers and partners across the region.”

Nestor Mendes and Rinaldo José Mendes, Founders and Co-Presidents of Vollmens Fragrances Ltda, commented: “We are excited to join Givaudan, a company that shares our passion for innovation and quality in the fragrance industry. Together, we will leverage our local expertise to create exceptional experiences for our customers in Brazil and beyond. This partnership marks a new and exciting chapter for us, and we look forward to starting this new moment with our stakeholders.”

While the terms of the deal will not be disclosed, Vollmens Fragrances Ltda’s business would have represented approximately CHF 25 million of incremental sales to Givaudan’s results in 2024 on a proforma basis.

 Givaudan plans to fund the transaction from existing resources and the transaction is expected to close in the second half of 2025. Under the terms of the agreement, Givaudan and the founding family of Vollmens have the option to further increase Givaudan’s shareholding in the future.