PARIS – Dsm-Firmenich, the Swiss fragrance and flavors supplier, said it sold its remaining 1 percent stake in French natural fragrance and flavors supplier Robertet.
The sale of 24,408 ordinary shares was made through Dsm-Firmenich’s affiliate Firmenich SA to a non-institutional investor, the group said Thursday.
The news comes in the wake of Robertet’s saying on Nov. 15 that it had reshaped its shareholder base to support long-term growth. Fonds Stratégique de Participations and Peugeot Invest had each invested 125 million euros, representing a 7.1 percent stake, in Robertet capital through share and investment certificates acquired from Dsm-Firmenich.
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The investment is meant to strengthen Robertet’s governance, shareholder structure and independence for the long term.
“A new, stable group of shareholders supportive of our vision is a unique asset for Robertet’s future success,” Jérôme Bruhat, chief executive officer of Robertet, said in a statement. “Their backing will allow us to reinforce our leadership in natural raw materials, expand our international presence and invest in ambitious projects to serve our clients with high-quality, innovative and sustainable products that have established our reputation.”
Robert’s founding controlling shareholder, the Maubert family, is reinforcing its ownership through the acquisition of certificates from Firmenich for 7.5 million euros.
Also on Nov. 15, it was announced Dsm-Firmenich had sold the majority of its holding in Robertet, which expanded the company’s free float by nearly 6 percent of capital.
FSP and Peugeot Invest will join Robertets’ board of directors as independent members.
“As an independent member of the board, Peugeot Invest will bring its experience as a publicly listed investment company to support the management’s recent initiatives to enhance market awareness and recognition of Robertet,” Robert Peugeot, chairman of Peugeot Invest, said in the statement.
“With this operation, Robertet opens a new chapter in its shareholder history and reaffirms its commitment to improving the liquidity and trading activity of its stock,” Robertet said in the statement also signed by FSP and Peugeot Invest.
Robertet was founded in Grasse, France, by the Maubert family. Robertet has become a leading supplier worldwide of more than 1,700 natural ingredients, flavors and fragrances. It has fully integrated vertical operations, from ingredients to end products spanning the beauty, health and food industries.
Robertet generated more than 720 million euros in sales in 2023, when over 80 percent was made abroad. It is represented in more than 50 countries and counts over 2,400 employees. The group has 15 creation centers around the world.
