Robertet Group Acquires Sonarome for €45-65 Million

New Delhi, Dec 11 (PTI) French fragrance company Robertet Group has acquired Bengaluru-based flavour company Sonarome for an estimated 45-65 million euros (Rs 404-584 crore).

Listed on Paris Stock Exchange, the family-owned business Robertet Group is one of the leading companies in natural raw materials used for the creation of flavours, fragrances and active ingredients for health and beauty products.

"We have completed the acquisition of Sonarome on December 1. It's a debt finance acquisition," Group CEO Jerome Bruhat told PTI.

The company has acquired shares from two major shareholders -- IIF and Gulhati family. The company has acquired the majority shares of IIF, while partial shares from the Gulhati family, he said.

"We have an agreement with the Gulhati family to purchase the rest of the shares for a period of eight years to come," he added.

According to company sources, the Robertet Group has acquired Sonarome for about 45-65 million euros (around Rs 404-584 crore).

The company's CEO said this is the Group's second acquisition in India after it purchased Mumbai-based Goldfield Fragrances five years back and later it was set up a wholly-owned subsidiary Robertet India.

"For Roberta Group, the acquisition of Sonarome is one of the biggest ever made. We have not acquired such an important company for the last three years," he said.

Set up in 1979, Sonarome specialises in local flavours and its acquisition completes Robertet's business in India. The earlier acquisition of Goldfield has accelerated the company's business in India in fragrances, he added.

With the rise in demand for natural raw materials for flavour and fragrances, Robertet Group said it sees a huge opportunity in the eastern market, especially India.