Iberchem, part of Croda International Plc., Announces Agreement To Acquire French Fragrance House Parfex
Parfex To Reinforce Iberchem’s Offer Of Natural And Sustainable Fragrances While Hosting A New Creative Centre For The Group’s Fine Fragrance Division.
The Iberchem Group, part of Croda International Plc. today announced it has signed an agreement to acquire French fragrance house Parfex S.A. (“Parfex”). Based in Grasse, France, Parfex will play an important role in Iberchem’s plan to increase its offering of sustainable and natural certified fragrances while hosting a new creative centre for the Group’s fine fragrance activities. In addition, the acquisition enhances Iberchem’s presence in the European market and, thanks to Parfex’s privileged location, increases its portfolio of naturally sourced ingredients targeted at premium markets. Iberchem’s acquisition of Parfex is its first since joining Croda in November 2020.
Established in Grasse in 1985 and now employing 75 people, Parfex specialises in the creation of fragrances for premium personal care and fine perfumery markets. The company has maintained steady growth over the past decade thanks to its creativity, the reliability of its high-quality operations and the dynamism of its team. It now sells its fragrances in more than 50 countries worldwide. Parfex will retain its independent identity within the Iberchem Group, preserving its current structure. However, it will now benefit from both Croda and Iberchem’s technical expertise, financial support, and international sales network, which will allow it to meet new growth opportunities.
Steve Foots, Croda Chief Executive Officer, said: “We believe that transitioning to more natural raw materials is a potential differentiator in the fragrance market. Parfex will play an important role in Iberchem’s plans to increase its sustainable fragrance offerings and further enhances our position in the creation of higher-value fine fragrances.”
“This acquisition is a cornerstone in the growth plan of the company,” said Ramón Fernández, CEO of Iberchem Group. “With its history and abundance of natural raw materials, Grasse is a world-renowned French town which is especially relevant for any fragrance house. Parfex will further enhance our portfolio of sustainable and natural fragrances, serving our ambition to rank among the leaders of this industry.”
“With great satisfaction, we become part of Croda and become the premium brand of their dynamic fragrance division Iberchem” said Kurt Tschopp General Manager of Parfex. “I am enthusiastic about this deal which offers new horizons to our company and assures its future. Thanks to the numerous synergies between the three companies, we have significant opportunities to accelerate our growth. We’ll focus on our passion to continue to create fragrances with high consumer acceptance, service our customers and reinforce our brand internationally”.