Gleiss Lutz advises Givaudan on acquisition of drom fragrances
Baierbrunn — A Gleiss Lutz team has advised Givaudan SA, the world’s largest fragrance manufacturer, on the acquisition of drom frag rances GmbH & Co KG from its owners, Dr. Ferdinand Storp and Dr. Andreas Storp. The transaction is expected to close at the beginning of the third quarter of 2019. The details of the transaction are not disclosed.
Givaudan is the world’s leading manufacturer and developer of flavors and fragrances. Givaudan develops flavors and fragrances in close collaboration with partners in the food, beverage, consumer goods and perfume sectors. In 2018, the company, headquartered in Vernier, Switzerland, generated sales of around 6 billion euros (5.5
billion Swiss francs). Givaudan employs nearly 13,600 people at more than 145 sites worldwide.
Drom fragrances is an internationally active perfume manufacturer based in Munich. Founded over 100 years ago, the family-owned company works with numerous customers in the consumer goods and fine fragrance industries. Drom employs 489 people worldwide at
four production sites in Germany, China, the USA and Brazil and generated sales of around 110 million euros in the past fiscal year.
The following Gleiss Lutz team advised Givaudan on the transaction: Dr. Alexander Schwarz (Partner, Lead, Düsseldorf), Dr. Martin Viciano Gofferje (Partner, Berlin), Dr. Reimund von der Höh, Friedrich Baumgärtel, Dr. Fabian Mumme (all Düsseldorf, all
Corporate/M&A), Dr. Ulrich Denzel (Partner, Antitrust, Stuttgart), Dr. Tim Weber (Partner, Real Estate, Frankfurt), Dr. Philipp Pichler (Antitrust, Stuttgart), Michael Neher (Real Estate), Patrick Reuter, Yvonne Gerster (both Finance, all Frankfurt), Dr. Johann Wagner (Partner), Dr. Hendrik Marchal (Counsel, both Tax, Hamburg), Dr. Manuel Klar (Data Protection Law, Munich).