PARIS – Givaudan is acquiring a majority stake in Vollmens Fragrance Ltdas, a supplier based in Brazil.

Financial terms of the deal were not disclosed. However, Givaudan, a Swiss fragrance and flavors supplier, said Vollmens’ business would have represented about 25 million Swiss francs, or $31.3 million, of incremental sales to Givaudan’s 2024 results on a pro forma basis.

Givaudan will fund the transaction from its existing resources. The deal is expected to close in the second half of this year.

Givaudan said it has the option to further increase its stake in Vollmens in the future.

“Acquiring a majority stake in Vollmens Fragrances fits perfectly with our 2025 strategy to expand our presence with local and regional customers,” said Gilles Andrier, chief executive officer of Givaudan, in a statement.

“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,” he said.

Vollmens, based in Saltinho, Brazil, has been in business since 2004. It operates across Latin America, as well as Central America, Africa and North America. Its founding family members, Nestor Francisco Mendes and Rinaldo José Mendes, are to continue steering Vollmens as part of the agreement with Givaudan. Vollmens has 180 employees.

“Vollmens Fragrance will bring expertise to Givaudan in serving the fast-growing mid-sized customer segment in Latin America,” said Maurizio Volpi, president of Givaudan’s Fragrance and Beauty.

Givaudan last year reported 7.4 billion Swiss francs in sales with a free cash flow of 15.6 percent. It employs more than 16,900 people globally in 2024.