Croda-backed Iberchem, a fragrance manufacturer, completed the acquisition of Parfex, a fragrance company, for €45m. "We believe that transitioning to more natural raw materials is a potential differentiator in the fragrance market. Parfex will play an important role in Iberchem's plans to increase its sustainable fragrance offerings and further enhances our position in the creation of higher-value fine fragrances," Steve Foots, Croda International, CEO.