Gleiss Lutz advises Givaudan on the acquisition of drom fragrances
A Gleiss Lutz team has advised Givaudan SA, the global leader in flavours and fragrances, on the acquisition of drom fragrances GmbH & Co. KG from its owners, Dr. Ferdinand Storp und Dr. Andreas Storp. The closing of the transaction is expected for the beginning of the third quarter 2019. The terms of the deal will not be disclosed.
Givaudan is the global leader in the creation of flavours and fragrances. In close collaboration with food, beverage, consumer product and fragrance partners, Givaudan develops tastes and scents. The Company achieved sales of about six billion Euros (about CHF 5.5 billion) in 2018. Headquartered in Swiss Vernier, with local presence in over 145 locations, the Company has almost 13,600 employees worldwide.
Drom fragrances is a global perfume house headquartered in Munich, Germany. Founded more than 100 years ago, the family owned company works for numerous clients in consumer products and fine fragrances. Drom has 489 employees around the world with four productions sites in Germany, China, USA and Brazil and generated 110 million Euro revenue in the last financial 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, competition/antitrust, Stuttgart), Dr. Tim Weber (partner, real estate, Frankfurt), Dr. Philipp Pichler (counsel, competition/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, Munich).