PRESS RELEASE : Symrise to expand Scent & Care Activities through Acquisition of Sensient's Fragrances Business Unit

 
 DGAP-News: Symrise AG / Key word(s): Mergers & Acquisitions/Agreement 
Symrise to expand Scent & Care Activities through Acquisition of Sensient's 
Fragrances Business Unit 
 
2020-11-23 / 17:00 
The issuer is solely responsible for the content of this announcement. 
 
· Purchase agreement signed for fragrance and aroma chemicals 
business of SensientTechnologies Corporation 
 
· Significant step to further strengthen market leadership in 
renewable fragrance ingredients 
 
· Further expansion of customer base and presence, 
particularly in EAME and Latin America 
 
· Targeted investments to grow European fragrances R&D and 
manufacturing site in Granada 
 
Symrise AG has signed a purchase agreement with Sensient Technologies 
Corporation (Milwaukee, USA) to acquire their fragrance and aroma chemicals 
activities. These comprise a wide range of aroma molecules and fragrances 
from natural and renewable sources. In fiscal year 2019, the business unit 
generated revenues of approx. 77 million Euros. With the acquisition, 
Symrise will strengthen its backward integration and broaden its leadership 
position as a supplier of fragrance ingredients which are increasingly 
demanded for use, especially in personal and home care products. Symrise 
will furthermore gain access to additional customers and strengthen its 
presence particularly in EAME and Latin America. Going forward, Symrise 
plans to also strengthen its manufacturing footprint in Spain with targeted 
investments in the manufacturing site in Granada that will be acquired. 
 
"We constantly screen strategic opportunities in continuation of our 
ambitions in certain growth segments and also make bold steps in challenging 
times. With the Sensient activities, Symrise is expanding its range of 
fragrance ingredients and will thus boost its competitiveness in the 
creation of fragrance compositions. In view of the increasing importance of 
natural and renewable raw materials for the fragrance industry, the new 
product range ideally complements our current portfolio. We are convinced 
that we will once more fully deliver on our strategic priorities with this 
acquisition. We drive growth while at the same time strengthening our 
leadership position in fragrance ingredients and green chemistry," said Dr. 
Heinz-Jürgen Bertram, CEO of Symrise AG. 
 
The Sensient fragrances and aroma chemicals business unit has been part of 
Sensient's Flavors & Extracts group. The unit holds longstanding business 
relationships with local, regional and global customers from the consumer 
goods industry. It supplies out of manufacturing sites in Spain and Mexico. 
The Sensient aroma molecules and fragrance solutions are mainly derived from 
renewable raw materials such as pine oil and citrus by-products amongst 
others. The portfolio will strengthen the Symrise products line with unique 
fragrance ingredients used in application such as perfumes, shampoos, soaps, 
detergents and antiperspirants. Through the acquisition, Symrise will not 
only be able to significantly expand its renewable ingredients portfolio, 
but to also increase its green chemistry value chain which includes various 
downstream products coming from sustainable cultivated sources. 
 
Symrise plans to combine the R&D competencies and manufacturing capacities 
of Sensient's fragrance and aroma chemicals activities with parts of its own 
at the site in Granada. Over a period of three years, targeted investments 
will be made to grow the Granada site and make it the second largest 
compounding facility in EAME for fragrance ingredients and compounds. 
 
Paul Manning, Chairman, President, and CEO of Sensient said: "We are pleased 
to be able to transition our fragrances and aroma chemical business to 
Symrise, an extremely strong and capable organization. This allows us to 
focus on our strategic priorities." 
 
Both parties agreed to keep the purchase price confidential. The transaction 
is subject to satisfaction of antitrust and regulatory approvals and other 
customary closing conditions. 
 
*About Sensient Technologies Corporation: * 
 
Sensient Technologies Corporation is a leading global manufacturer and 
marketer of colors, flavors, and other specialty ingredients. Sensient uses 
advanced technologies and robust global supply chain capabilities to develop 
specialized solutions for food and beverages, as well as products that serve 
the pharmaceutical, nutraceutical, cosmetic, and personal care industries. 
Sensient's customers range in size from small entrepreneurial businesses to 
major international manufacturers representing some of the world's 
best-known brands. Sensient is headquartered in Milwaukee, Wisconsin. 
 
*About Symrise: * 
 
Symrise is a global supplier of fragrances, flavors, food, nutrition and 
cosmetic ingredients. Its clients include manufacturers of perfumes, 
cosmetics, food and beverages, pharmaceuticals and producers of nutritional 
supplements and pet food.Its sales of approximately &euro 3.4 billion in the 
2019 fiscal year make Symrise a leading global provider. Headquartered in 
Holzminden, Germany, the Group is represented by more than 100 locations in 
Europe, Africa, the Middle East, Asia, the United States and Latin America. 
Symrise works with its clients to develop new ideas and market-ready 
concepts for products that form an integral part of everyday life. Economic 
success and corporate responsibility are inextricably linked as part of this 
process. Symrise - always inspiring more . 
 
www.symrise.com [1] 
 
_Media contact:_              _Investor contact:_ 
*Bernhard Kott*               *Tobias Erfurth* 
_Phone: [phone]_  _Phone: [phone]_ 
_Email:                       _Email: 
[e-mail]    [e-mail] 
 
_Social media:_ 
twitter.com/symriseag [2]     linkedin.com/company/symrise [3] 
youtube.com/agsymrise [4]     xing.com/companies/symrise [5] 
instagram.com/symriseag [6] 
 
2020-11-23 Dissemination of a Corporate News, transmitted by DGAP - a 
service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
The DGAP Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language:    English 
Company:     Symrise AG 
             Mühlenfeldstraße 1 
             37603 Holzminden 
             Germany 
Phone:       [phone] 
E-mail:      [e-mail] 
Internet:    www.symrise.com 
ISIN:        DE000SYM9999, DE000SYM7787, DE000SYM7704 
WKN:         SYM999 
Indices:     MDAX 
Listed:      Regulated Market in Frankfurt (Prime Standard); Regulated 
             Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, 
             Munich, Stuttgart, Tradegate Exchange 
EQS News ID: 1149674 
 
End of News DGAP News Service 
 
1149674 2020-11-23 
 
 
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(END) Dow Jones Newswires

November 23, 2020 11:00 ET (16:00 GMT)