De Gaulle Fleurance & Associés advises Elixens in the context of the financial, legal and tax restructuring of Laboratoire Philippe Davioud

21/05/13
Laboratoire Philippe Davioud was established in 2004. It combines R&D and manufacturing in one single structure, which makes it possible to act as an interface between the world of raw materials and the world of pharmaceutical manufacturing. Since 2010, Laboratoire Philippe Davioud has grown exponentially and gained market recognition. In spite of the intervention of Etablissement Public de Financement de Normandie (Public Financing Establishment of Normandy) in the context of the extension of its premises and major fundraising campaigns, Laboratoire Philippe Davioud was not able to cope with cash flow and organisation constraints arising from its growth. In summer 2012, the firm therefore had to be placed into receivership. The receivership is now over thanks to a restructuring scheme combined with a backing to Elixens, its top holding (Yriel) having taken control of Laboratoire Philippe Davioud in collaboration with its historical manager, Mr Davioud, who remains General Manager and Responsible Pharmacist. Elixens is an independent French group and a major player in the organic sector, which manages all manufacturing stages; from growing to distribution of aromas and essential oils. Elixens pursues an external growth policy source of synergies. It already managed the sourcing and growing of perfume plants via its subsidiaries in Ukraine, the Comoros, Brazil, France, the United Kingdom and the United States, the processing into aromatic compositions and the distribution. Thanks to its experience in medicinal and aromatic plant processing, as well as in essential oils intended for the food-processing and pharmaceutical industries, Laboratoire Philippe Davioud will find its place within the Elixens group. The Court approved the plan presented by de Gaulle Fleurance & Associés considering the obvious synergies in the organic sector undergoing regulatory changes and organic prospects for the pharmaceutical industry, as well as the financial, legal and tax restructuring plan submitted.   Elixens was advised by de Gaulle Fleurance & Associés. Laboratoire Philippe Davioud was advised by FHB.
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