Spanish-based fragrance manufacturer Iberchem, which was recently took over by Croda, has signed an agreement to acquire French fragrance house Parfex.
The operation will reinforce Iberchem’s offer of natural and sustainable fragrances while hosting a new creative centre for the group’s fine fragrance division.
Based in Grasse, France, Parfex will help Iberchem to enhance its presence in the European market. Parfex’s privileged location will also help the Spanish group to increase its portfolio of naturally sourced ingredients targeted at premium markets.
Established in Grasse in 1985 and now employing 75 people, Parfex specialises in the creation of fragrances for 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,” explains Iberchem in a statement.
Iberchem’s acquisition of Parfex is its first since joining Croda in November 2020.
“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,” said Steve Foots, Croda Chief Executive Officer.
“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,” added Ramón Fernández, CEO of Iberchem Group.
