Aurica XXI has acquired 25% of the Catalan company Eurofragance. The company is headquartered in Rubí (Vallès Occidental) and controlled by the family Sabatés . The amount of the transaction was not disclosed. Eurofragance was founded by Jordi Sabates and his son, Santiago Sabatés in 1990. The firm specializes in the design and production of fragrances and flavours for food industries, perfumery and personal hygiene.
In 2009 had a turnover of 22 million euros and is expected to reach 30 million this year. Eurofragance makes the 80% of its sales abroad, mainly in the Middle East, and has not disclosed its profit. The entry of Aurica XXI in the company will be structured through a capital increase. The new resources will be allocated to a growth plan that provides acquisitions. The company said yesterday that “is studying several projects that are still confidential.” Aurica XXI will have a seat on the board.
Eurofragance has facilities of 10,500 square meters in Ruby and subsidiaries in Turkey, the Philippines, Mexico and Dubai. The staff consists of 112 employees.
In January, the company acquired a warehouse belonging to Cimasa Chemical Industry which will increase its presence in Ruby. Eurofragance investment amounted to 1.3 million euros. One of its competitors in the industry is also the Catalan Fragrance Science.