Firmenich has entered into a strategic partnership with Essential Labs, LLC, a B2B supplier of fragrance solutions in the home segment.
Through this partnership, Firmenich will bring its capabilities to a broader range of emerging growth brands to build a more sustainable, renewable and natural future for fragrance.
Firmenich will acquire a significant non-controlling interest in Essential Labs, LLC. Essential Labs, LLC’s founders will continue to lead the company together with its colleagues.
The transaction remains subject to customary conditions, including regulatory approval, and is expected to close before the end of September 2021.
Patrick Firmenich, chairman of the board, said, “I am thrilled that we are partnering with Essential Labs LLC, combining our unique know-how and shared spirit of innovation for the benefit of entrepreneurs. We share a common vision, values and commitment to providing customers with services tailored to their needs.”
Firmenich president of global perfumery, Ilaria Resta, said, “We have always supported businesses large and small, and Essential Labs, LLC is a great partner to help bring Firmenich capabilities and innovation to an even broader community. We look forward to working with Essential Labs, LLC to support entrepreneurs on their journey to build the brands of tomorrow.”
Firmenich CEO Gilbert Ghostine said, “This partnership is an exciting step for Firmenich that will enable us to bring our unique capabilities in science and our leading palette of natural, renewable and sustainable ingredients to the dynamic community of entrepreneurs in the United States and beyond."