TAGS: Perfumes & Fragrances
Firmenich has announced that it has reached an agreement to establish a joint venture with MG International Fragrance Company, owned by the Gülçiçek family.
Partnership to Provide Creative Perfumery
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It is an honor to welcome Mişel Gülçiçek and the entire MG International group to Firmenich, building on our long-standing business partnership for more than 50 years,” stated Patrick Firmenich, Chairman of the Board, Firmenich.
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We share the same passion for creative perfumery, a common culture of lasting relationships with our customers, and enduring family values caring for our people and the planet.”
The Gülçiçek family will remain significant shareholders in MG International. Upon closing, MG International will operate as a member of the Firmenich group, maintaining its brand name.
Combine Innovation and Technology
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As an independent, family-owned business for 58 years, we are honored to partner with the world’s largest privately held fragrance and flavor company,” explained Mişel Gülçiçek, Founder and Chairman, MG International Fragrance Company.
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Firmenich is a true industry leader in both creativity and responsible business; we look forward to combining our artistry, innovation and technology to create positive emotions together.”
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With our combined capabilities, Firmenich and MG International will now offer winning fragrance solutions and exemplary service for regional and mid-size local customers across Turkey, the Middle East, North Africa, Eastern Europe and the greater ‘Stans’,” commented Gilbert Ghostine, CEO, Firmenich.
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Our new partnership will combine unrivalled innovation and technology with deep local customer intimacy and consumer understanding, as well as giving us a strong supply chain base for faster speed-to-market across the region.”
Financial terms of the deal have not been disclosed. The completion of this transaction is subject to clearance by the relevant regulatory authorities and is expected to close in early 2020.
Source: Firmenich