- In October 2023, Azelis, a leading service provider in specialty chemicals and food ingredients, acquired 100% of the shares in BLH SAS, a French distributor specializing in flavors and fragrances for the fine perfumery sector
- In June 2023, Turpaz Industries completed the acquisition of Food Base, a Hungary-based company focused on the development and marketing of essential oils, herbal extracts, and flavor solutions for the food and beverage industry, in a deal valued at USD 9.5 million (~3.3 billion Hungarian Forint)
- In January 2023, PT Indika Energy Tbk (INDY) announced its strategic diversification into the essential oils sector. Through its subsidiary PT Indika Multi Properti (IMP), the company acquired a 46% stake in PT Natura Aromatik Nusantara (NAN) for approximately IDR 179.60 billion (~USD 11.55 million)
