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).