Firmenich has reached a deal to acquire Agilex Fragrances, a scented products manufacturer, from middle-market private equity firm MidOcean Partners.
Agilex designs “high-quality” fragrances used in a broad range of services, including: air care, personal care, home care, and cologne and perfume. Under the ownership of MidOcean, Agilex completed four add-on acquisitions and “significantly reinvested in the business.” The target operates from its headquarters in Piscataway, New Jersey and opened a new production facility in Somerset County, New Jersey earlier in 2017.
Firmenich is a privately-owned distributor of fragrances and flavors used for a variety of applications. The buyer’s products are used in the making of perfumes, sweets goods, carbonated soft drinks, juices, nectars, soups, and snacks. Some of the buyer’s products are used in popular fragrances such as Giorgio Armani’s Aqua Di Gio, Hugo Boss’ Boss Bottled, Ralph Lauren’s Romance and Lolita Lempicka. Firmenich was founded in 1895 in Geneva, Switzerland.
The Agilex deal is expected to close in the third quarter of 2017. Houlihan Lokey Inc. (NYSE: HLI) is acting as financial adviser to MidOcean Partners, while Kirkland & Ellis LLP is serving as legal adviser.
Giorgio Armani
Subscribe Now
Complete access to real-time information and analysis of news and trends in the industry.