Givaudan
Encyclopedia
Givaudan is a Swiss
manufacturer of flavorings and fragrances. As of 2008, it is the world's largest company in the industry.
As of 2008, Givaudan holds a 19% market share in an industry which is overall valued at around CHF
17 billion, and it is one of Switzerland’s 30 biggest listed companies in terms of market capitalization. In 2008, 8.4% of its sales were reinvested in R&D. The company has a leading presence in all major markets and operates through a network of more than 40 subsidiaries in the mature and emerging markets of Europe
, Africa
and the Middle East
, North America
, Latin America
as well as Asia Pacific. Major competitors include Firmenich
, International Flavors and Fragrances
and Symrise
.
(Switzerland
) by Leon and Xavier Givaudan, although some parts of the modern company date back as far as 1796. In 1898 Givaudan moved to Geneva
(Switzerland
) and constructed a factory in Vernier. In the 1960s, Givaudan entered the flavor
business at a time when changing lifestyles was fueling an increased demand for easy-to-prepare meals.
In 1937 Givaudan's predecessor Roure
created the first designer perfume: Schocking for Schiaparelli
.
In 1963, Givaudan was acquired by Roche
and in 1964, Roche acquired one of Givaudan's competitors, Roure. Both companies flourished independently under Roche until 1991 when Givaudan and Roure were merged to form Givaudan-Roure. Also in 1991, the company bought Fritzsche, Dodge and Olcott, a US based flavor and fragrance company, whose origins date back to the late 18th century. In 1997 Givaudan-Roure acquired another flavor company, Tastemaker, based in Cincinnati, Ohio
(USA). The merger made Givaudan the largest flavor company in the world and the Tastemaker facility in Cincinnati became Givaudan's new headquarters for its flavor business. In 2000 Givaudan-Roure was spun-off by its parent company as Givaudan and listed on the Swiss Stock Exchange (Code GIVN.VX) where it is part of the SLI. In 2002 Givaudan acquired FIS the flavors division of Nestle
.
On July 10, 1976 at around 12:37 pm the Seveso disaster
occurred in a small industrial plant, located in Meda. The industrial plant was owned by the company ICMESA (Industrie Chimiche Meda Società Azionaria), a subsidiary of Givaudan which in turn was a subsidiary of Hoffmann-La Roche (Roche Group).
On February 24, 2002, it was reported by AP Worldstream, that Italy's highest court ruled that residents exposed to a toxic cloud who did not suffer physical injuries are entitled to "moral damages" for the anxiety they went through. The ruling could cost chemical manufacturer Icmesa tens of millions of Euros as some 10,000 residents have filed suit for mental anguish. An explosion at the firm's Seveso facility in 1976 caused a toxic cloud to contaminate the town. Givaudan, the parent company of ICMESA, has already reportedly paid EUR103.9 million (US$90.3 million) in cleanup costs and compensation to those who suffered physical injuries as a result of the incident.
On 22 November 2006, Givaudan announced the acquisition of Quest International
to be completed Q1 2007. On 21 February 2007, the EU
approved the merger of Givaudan and Quest clearing the final regulatory hurdle for the merger after the US
authorities approved the merger earlier in the month. The merger deal closed on 2 March 2007. The acquisition makes Givaudan the global leader in both fine fragrances and consumer products. Givaudan was already the global leader in flavors and the acquisition of Quest International strengthens their position. The acquisition of Quest boosted Givaudan's sales by 42% from CHF 2,909 million in 2006 to CHF 4,132 million in 2007.
Givaudan's original United States fragrance headquarters, in Teaneck, New Jersey
, was built in 1972 from a design by Der Scutt
, architect of the Trump Tower
. The company outgrew the Teaneck, NJ building and has since moved to East Hanover, NJ.
In 2008, Givaudan released one of the world's first mobile perfume recommendation tools, the iPerfumer app.
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
manufacturer of flavorings and fragrances. As of 2008, it is the world's largest company in the industry.
Background
The company's scents and flavors are developed most often for food and beverage makers, but they are also used frequently in household goods, as well as grooming and personal care products. Givaudan’s flavors and solutions are usually custom-made and, like their competitors' formulas, always sold under strict confidentiality agreements.As of 2008, Givaudan holds a 19% market share in an industry which is overall valued at around CHF
Swiss franc
The franc is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia. Although not formally legal tender in the German exclave Büsingen , it is in wide daily use there...
17 billion, and it is one of Switzerland’s 30 biggest listed companies in terms of market capitalization. In 2008, 8.4% of its sales were reinvested in R&D. The company has a leading presence in all major markets and operates through a network of more than 40 subsidiaries in the mature and emerging markets of Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
, Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
and the Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
, North America
North America
North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...
, Latin America
Latin America
Latin America is a region of the Americas where Romance languages – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...
as well as Asia Pacific. Major competitors include Firmenich
Firmenich
Firmenich SA is a private Swiss company in the perfume and flavor business, it is the largest privately-owned company in the perfume and flavor business, and ranks number two worldwide., Firmenich has created many of the world’s favorite perfumes for over 100 years and produced a number of the most...
, International Flavors and Fragrances
International Flavors and Fragrances
International Flavors & Fragrances is a major producer of flavors and fragrances with sales of $2.6 billion in .Major competitors include Firmenich, Givaudan, and Symrise. IFF is a member of the S&P 500.-History:...
and Symrise
Symrise
Symrise is a major producer of flavors and fragrances with sales of € 1,572 million in 2010. Major competitors include Firmenich, Givaudan, International Flavors and Fragrances and Takasago International.-History:...
.
History
Givaudan was founded as a perfumery company in 1895 in ZurichZürich
Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich...
(Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
) by Leon and Xavier Givaudan, although some parts of the modern company date back as far as 1796. In 1898 Givaudan moved to Geneva
Geneva
Geneva In the national languages of Switzerland the city is known as Genf , Ginevra and Genevra is the second-most-populous city in Switzerland and is the most populous city of Romandie, the French-speaking part of Switzerland...
(Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
) and constructed a factory in Vernier. In the 1960s, Givaudan entered the flavor
Flavor
Flavor or flavour is the sensory impression of a food or other substance, and is determined mainly by the chemical senses of taste and smell. The "trigeminal senses", which detect chemical irritants in the mouth and throat as well as temperature and texture, are also very important to the overall...
business at a time when changing lifestyles was fueling an increased demand for easy-to-prepare meals.
In 1937 Givaudan's predecessor Roure
Roure
Roure is a commune in the Alpes-Maritimes department in southeastern France.-Population:-References:*...
created the first designer perfume: Schocking for Schiaparelli
Elsa Schiaparelli
Elsa Schiaparelli was an Italian fashion designer. Along with Coco Chanel, her greatest rival, she is regarded as one of the most prominent figures in fashion between the two World Wars. Starting with knitwear, Schiaparelli's designs were heavily influenced by Surrealists like her collaborators...
.
In 1963, Givaudan was acquired by Roche
Hoffmann-La Roche
F. Hoffmann-La Roche Ltd. is a Swiss global health-care company that operates worldwide under two divisions: Pharmaceuticals and Diagnostics. Its holding company, Roche Holding AG, has shares listed on the SIX Swiss Exchange....
and in 1964, Roche acquired one of Givaudan's competitors, Roure. Both companies flourished independently under Roche until 1991 when Givaudan and Roure were merged to form Givaudan-Roure. Also in 1991, the company bought Fritzsche, Dodge and Olcott, a US based flavor and fragrance company, whose origins date back to the late 18th century. In 1997 Givaudan-Roure acquired another flavor company, Tastemaker, based in Cincinnati, Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
(USA). The merger made Givaudan the largest flavor company in the world and the Tastemaker facility in Cincinnati became Givaudan's new headquarters for its flavor business. In 2000 Givaudan-Roure was spun-off by its parent company as Givaudan and listed on the Swiss Stock Exchange (Code GIVN.VX) where it is part of the SLI. In 2002 Givaudan acquired FIS the flavors division of Nestle
Nestlé
Nestlé S.A. is the world's largest food and nutrition company. Founded and headquartered in Vevey, Switzerland, Nestlé originated in a 1905 merger of the Anglo-Swiss Milk Company, established in 1867 by brothers George Page and Charles Page, and Farine Lactée Henri Nestlé, founded in 1866 by Henri...
.
On July 10, 1976 at around 12:37 pm the Seveso disaster
Seveso disaster
The Seveso disaster was an industrial accident that occurred around 12:37 pm July 10, 1976, in a small chemical manufacturing plant approximately north of Milan in the Lombardy region in Italy...
occurred in a small industrial plant, located in Meda. The industrial plant was owned by the company ICMESA (Industrie Chimiche Meda Società Azionaria), a subsidiary of Givaudan which in turn was a subsidiary of Hoffmann-La Roche (Roche Group).
On February 24, 2002, it was reported by AP Worldstream, that Italy's highest court ruled that residents exposed to a toxic cloud who did not suffer physical injuries are entitled to "moral damages" for the anxiety they went through. The ruling could cost chemical manufacturer Icmesa tens of millions of Euros as some 10,000 residents have filed suit for mental anguish. An explosion at the firm's Seveso facility in 1976 caused a toxic cloud to contaminate the town. Givaudan, the parent company of ICMESA, has already reportedly paid EUR103.9 million (US$90.3 million) in cleanup costs and compensation to those who suffered physical injuries as a result of the incident.
On 22 November 2006, Givaudan announced the acquisition of Quest International
Quest International
Quest International was a major producer of flavors and fragrances with sales of £560 million in 2005 before its acquisition by rival Givaudan. Quest created and marketed flavours and fragrance concepts and solutions for the fast moving consumer goods industries...
to be completed Q1 2007. On 21 February 2007, the EU
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
approved the merger of Givaudan and Quest clearing the final regulatory hurdle for the merger after the US
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
authorities approved the merger earlier in the month. The merger deal closed on 2 March 2007. The acquisition makes Givaudan the global leader in both fine fragrances and consumer products. Givaudan was already the global leader in flavors and the acquisition of Quest International strengthens their position. The acquisition of Quest boosted Givaudan's sales by 42% from CHF 2,909 million in 2006 to CHF 4,132 million in 2007.
Givaudan's original United States fragrance headquarters, in Teaneck, New Jersey
Teaneck, New Jersey
Teaneck is a township in Bergen County, New Jersey, and a suburb in the New York metropolitan area. As of the 2010 United States Census, the township population was 39,776, making it the second-most populous among the 70 municipalities in Bergen County....
, was built in 1972 from a design by Der Scutt
Der Scutt
Der Scutt was the architect and designer of major buildings throughout New York City and the United States....
, architect of the Trump Tower
Trump Tower
Trump Tower or Trump Towers may refer to one of several skyscrapers owned and operated by Donald Trump:Trump Tower* Trump Towers * Trump Towers * Trump Tower * Trump Tower...
. The company outgrew the Teaneck, NJ building and has since moved to East Hanover, NJ.
In 2008, Givaudan released one of the world's first mobile perfume recommendation tools, the iPerfumer app.