Hagelin & Company sells Fragrance Division to UK-Based CPL Aromas

Our client Hagelin & Company recently sold its fragrances business line to CPL Aromas. As the below statement from the buyer indicates, this transaction enables Hagelin to focus on its successful flavor formulations business and to invest in the development of new technologies. Fairmount Partners was pleased to advise Hagelin on this transaction and looks forward to continuing its relationship.

SOMERSET, NJ – May 15, 2009 – CPL Aromas Inc of Somerset New Jersey, a subsidiary of the British multi-national fragrance house CPL Aromas, can confirm that it has concluded the purchase of the Hagelin and company Inc fragrance business.

This acquisition will see CPL Aromas transfer production of the Hagelin fragrance business to its new purpose built full service facility in Somerset New Jersey.

Managing director of CPL Aromas Americas, Mr. Nick Pickthall, commented that “This substantial investment demonstrates CPL Aromas commitment to the world’s largest fragrance market” he added “We are delighted to have reached an agreement with Hagelin and look forward to providing our new customers with innovation and excellent customer service”.

CPL Aromas is the largest independent British fragrance house with creative centers, sales offices and manufacturing sites throughout the world. The company, which was founded in 1971, is now the 10th largest perfume only fragrance house in the world supplying fragrances for a variety of applications to thousands of customers in hundreds of countries worldwide.

Hagelin and company will continue to focus on the growth of its successful flavor business and invest substantially in the development of its new technologies.

Fairmount Partners is a registered Broker Dealer, member FINRA (www.finra.org) and SIPC (www.sipc.org).

Fairmount Partners acted as advisors to Hagelin & Co.

Contact: Andrew T. Greenberg