S H Kelkar and Company has entered into an agreement to acquire Creative Flavours and Fragrances S.p.A. (CFF) along with its subsidiaries on January 15, 2018. The acquisition would enable broadening of the group's fragrance business.
As per the agreement, the company is to acquire 51% stake upfront for around euro 12 million. Remaining stake shall be acquired within three years, consideration for which shall be paid based on CFF’s performance.
S H Kelkar and Company is a fragrance manufacturer in India. The company operates in two segments: Fragrances, which manufactures/trades in Fragrances and aroma ingredients for Fragrances, and Flavours, which manufactures/trades in Flavors.