Firmenich to become a key player in renewable ingredients
Firmenich has announced that it has entered into exclusivity arrangement with Ardian, Tikehau Capital and family shareholders to acquire Les Dérivés Résiniques et Terpéniques (“DRT”).
DRT is a world leader in plant-based chemistry, mainly from pine trees, and is one of the leading suppliers globally of high quality, renewable ingredients.
“I am thrilled to bring DRT’s unique capabilities for developing sustainable ingredients to Firmenich. This proposed combination builds on our business partnership of more than 30 years and our established track record of successful co-development in a long-standing joint venture,” said Patrick Firmenich, chairman of the board, Firmenich.
The potential acquistion of DRT is to further strengthen Firmenich’s position in the Ingredients business enabling it to offer customers the world’s best palette of renewable and sustainable ingredients.
Gilbert Ghostine, CEO, Firmenich said: “DRT would bring new capabilities in health and nutrition, cosmetics, as well as a number of new markets, including adhesives, coatings and agriculture. This acquisition reinforces our presence in France, which is our second largest market where we have been established for more than 120 years. I look forward to partnering with all our customers to support their transformation for a sustainable future.”
DRT is at the forefront of developing sustainable, renewable and naturally-derived ingredients from terpenes and rosin derivatives. DRT offers green alternatives for a range of applications and markets.
Founded in 1932 and headquartered in Dax, France, DRT developed a backward integrated business model over many decades, including access to sustainable raw materials, best-in-class extraction and distillation capabilities and advanced innovation processes.
DRT has a turnover in excess of €550 million, employs more than 1,500 people around the world and is operating through a global footprint with four production sites located in France, two in the USA, two in India and one in China.