Treatt, a company founded in 1886 by Richard Court Treatt, has undergone significant changes and transformations over the years. Originally established as a supplier of raw materials for flavors and fragrances, Treatt has evolved into a leading manufacturer and innovator in the industry.
Following Richard Court Treatt’s passing in 1924, the Bovill family became major shareholders of the company. Geoffrey Bovill served as the group’s chairman for 40 years, until his son Hugo took over as managing director in 1987. Under Hugo’s leadership, Treatt was listed on the London stock market in 1996, marking a new chapter in the company’s history. However, in 2012, Hugo resigned from his position following disagreements within the boardroom, leading to his family divesting their shares in the company.
Tim Jones assumed the role of chairman in February 2012, and Daemmon Reeve, who had joined Treatt as a lab technician in 1990, became the new chief executive in August of the same year. Reeve believed that Treatt had untapped potential and was eager to implement changes to drive growth. With the support of Richard Hope, the group’s finance director, Reeve implemented a new strategy focused on high-quality manufactured ingredients, attracting major players in the flavor and fragrance industry.
Under Reeve’s leadership, Treatt experienced significant growth, with the company’s share price increasing by 17-fold over the next nine years. However, the onset of the Covid-19 pandemic in 2021 led to a decline in the company’s share price. Despite this setback, Reeve and his team took swift action to stabilize the business and navigate through the challenging times.
In 2022, key changes occurred within Treatt’s leadership team, with Hope and Jones announcing their departures. Reeve also revealed his plans to leave the company by the end of the year. This series of departures raised concerns among investors, signaling a period of transition for Treatt.
Following Reeve’s departure, David Shannon, a former senior executive at Croda, took over as Treatt’s new chief executive in June 2024. Ryan Govender, who had temporarily assumed the role of chief executive, returned to his position as chief financial officer. However, Govender later announced his decision to leave Treatt in March 2025 to join Johnson Service Group as chief financial officer.
Vijay Thakrar, a board member since 2020, succeeded Jones as chairman of Treatt. Thakrar’s extensive responsibilities, including chairing other companies and serving on various boards, raised questions about his ability to fully dedicate himself to Treatt’s affairs.
Despite facing challenges such as Trump’s tariffs and fluctuations in citrus prices, Treatt reported positive financial results in 2024. However, a subsequent profit warning in April 2025 highlighted ongoing uncertainties in the market, requiring Shannon and his team to navigate potential risks and challenges ahead.
As Treatt continues to adapt to changing market dynamics and leadership transitions, the company remains focused on leveraging its expertise and innovative capabilities to drive sustainable growth and success in the future.