Givaudan Broadens Its Reach in Makeup by Acquiring B.kolor
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PARIS — As Givaudan broadens its capabilities in beauty, and especially makeup, it has acquired B.kolormakeup & Skincare.
That is an Italian company, known as B.kolor, focused on developing and manufacturing finished makeup and skin care products for consumer packaged goods, indie brands and luxury goods.
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Financial terms of the deal were not disclosed, but Givaudan, a Swiss fragrance, flavors and well-being company, said that the B.kolor business would have represented about 77 million Swiss francs, or $85.2 million, of incremental sales to Givaudan’s 2023 sales on a pro forma basis.
Givaudan plans to finance the acquisition through debt.
In July 2021, it acquired 25 percent of B.kolor as part of Givaudan’s strategy to expand in beauty.
“This acquisition of the remaining 75 percent allows Givaudan to offer innovative solutions for makeup formulations and further widen its capabilities for skin care applications,” the company said in a statement. “This will enlarge its value proposition in the beauty sector, having already a strong leadership in fine fragrances and hair care.”
Milan-based B.kolor was founded in 2000 and employs more than 300 people.
“The company is recognized as experts in creative formulation design and the production of finished products for B2B customers, focusing on innovation and sensory benefits allied to state-of-the-art technical performance,” Givaudan said.
“By sharing our creative and innovation capabilities, we will generate additional value to our respective customers by providing a complete offer combining a high level of science with excellence in design,” said Marurizio Volpi, president of Givaudan’s Fragrance and Beauty division.
Added Markus Rassmann, head of Givaudan Active Beauty: “We are delighted to expand in beauty by benefiting from B.kolor’s expertise. This acquisition not only strengthens our capabilities in the fields of makeup and skin care, but also positions us as leaders in driving the market towards an ever more solutions-driven future.”
“Joining Givaudan, the market leader, is a great opportunity to bring our businesses to new heights,” said Maria-Teresa Sancini, a cofounder and chairwoman of B.kolor. “Givaudan’s capabilities in creation, ingredients and technology will greatly support us in evolving our product offering, while benefiting from Givaudan’s customer base and geographical footprint to expand ourselves in new territories. We are very pleased to also share our unique creative design and production know-how with Givaudan to bring the products of tomorrow to life.”