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Mergers - Acquisitions - Takeovers
Holzminden (euro adhoc) - Acquisition of Brazilian activities from fragrance
manufacturer Belmay to extend position in new areas of growth
Expansion of natural perfume oils business with the acquisition of Trilogy
Fragrances, USA
Consumer Health activities strengthened through strategic partnership with
Indevex Biotech
As part of its growth strategy, Symrise AG is once again focusing on emerging
markets and rapidly growing market segments in 2012. In this context the Company
recently finalized two acquisitions and a strategic partnership. Symrise
purchased the Brazilian activities of fragrance manufacturer Belmay and will
transfer these to its own site. Symrise is also strengthening its dynamically
growing natural ingredients business with its acquisition of the US manufacturer
Trilogy Fragrances. In addition, the Company agreed to a strategic partnership
with the Swedish biotech firm Indevex regarding the similarly expanding segment
of Consumer Health.
"We continue to follow our strategy of extending Symrise´s position in the
rapidly expanding emerging markets and sharpening our unique profile with our
expansion into innovative market segments. We are especially pleased that, at
the start of the new fiscal year, we can announce three measures that put these
goals into practice," said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG. "For
consumers in developed nations, having a healthy lifestyle is playing an
increasingly important role. Through our strategic partnership with Indevex
Biotech, we are selectively expanding our expertise in functional foods and
creating an optimal foundation for further product innovations. The purchase of
Trilogy Fragrances expands our portfolio of natural perfume oils, particularly
in North America."
Dr. Bertram added: "In the dynamically growing countries of Latin and South
America, the rising standard of living is driving demand for consumer goods. We
allow for this situation with the purchase of Belmay´s perfume activities in
Brazil - one of the most populous countries on earth."
Belmay: South American Expansion
South America is one of the most important sales regions for Symrise because of
its dynamic economic development. The Company has therefore continually expanded
its presence in Brazil over the past few years. The next step will be to pool
all developmental activities at a new Center of Expertise in Cotia. Over an area
of nearly 8,000 sq m, the Company will bundle its creative know-how for all of
its corporate divisions. Production at the Sorocaba site will also be expanded
further. With the acquisition of Belmay´s Brazilian activities, Symrise is
expanding its existing offer of products in the application areas Fine
Fragrances, Hair Care and Personal Care. With its broadened portfolio, Symrise
will therefore be able to serve distinctive Latin American consumer interests
regarding care products.
Fine Fragrances and Personal Care are among Belmay´s main segments in Brazil.
The transaction includes the existing customer portfolio, the company´s know-how
as well as the takeover of its supplier contracts. The companies have agreed to
keep the purchase price confidential.
Trilogy: Extending Market Position in Natural Perfume Oils
Natural products are increasingly in demand, particularly in developed nations.
With the acquisition of Trilogy Fragrances (Lakewood, USA), Symrise is expanding
its position in the natural fragrances segment. The product and customer
portfolio from Trilogy is an excellent complement to Symrise´s portfolio,
rounding out the range of offers. The transaction also contributes to the
expansion of the Company´s presence in North America and includes a long-term
supplier agreement between Symrise and Trilogy´s previous parent group, TPR
Holdings. With this agreement, Symrise secures preferential supplier rights
along TPR´s entire product portfolio including Fine Fragrances, Personal and
Oral Care as well as Functional Ingredients.
Trilogy has been the first American fragrance producer to be certified for the
manufacture of organic fragrances through the USDA´s National Organic Program.
This qualification is renewed annually. Trilogy specializes in the development
of natural ingredients. The company´s product portfolio contains more than 7,000
formulas which are unique in their fragrance profile. Both parties have agreed
to keep the purchase price confidential.
Achim Daub, the Executive Board member overseeing Scent & Care, said: "With the
strategic measures announced today, we underscore our determination to
selectively expand and invest in our most rapidly expanding activities and
regions."
Indevex: Strategic Partnership for Consumer Health
Through an exclusive strategic partnership with Indevex Biotech (Storebro,
Sweden), Symrise is strengthening its Consumer Health division, which was
founded in 2009. Indevex produces a patented nutrient complex ("NGC") and
markets this primarily through a licensing model. The product concept for
medical nutrition, health and functional foods as well as products for losing
weight, optimally complement Symrise´s existing portfolio.
Symrise and Indevex have also agreed to develop new product concepts through
joint research and development. Furthermore, Symrise has secured access to a
Scandinavian biotech network with existing product partnerships. Symrise is
assuming a minority stake and will be represented on Indevex´s Board of
Directors by Dr. Bertram.
About Symrise
Symrise is a global supplier of fragrances and flavorings as well as cosmetic
base materials and substances for the perfume, cosmetic, and food industries.
Its sales of EUR 1.57 billion in 2010 place Symrise among the top four companies
in the global flavors and fragrances market. Headquartered in Holzminden,
Germany, the Company is represented in over 35 countries in Europe, Asia, the
United States, and South America.
Our innovative products are used by perfume, cosmetic, and food manufacturers
and are an indispensable part of daily life. We combine our insights on consumer
trends with cutting-edge technologies, focusing on innovative trend and
lifestyle products that have additional practical value for the consumer.
Symrise - always inspiring more
www.symrise.com
Further inquiry note:
Symrise AG
Press Contact
Bernhard Kott
Phone +49 (0)5531 90-1721
Email: bernhard.kott@symrise.com
end of announcement euro adhoc
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company: Symrise AG
Mühlenfeldstraße 1
D-37603 Holzminden
phone: +49 (0) 5531/90-0
FAX: +49 (0) 5531/90-1649
mail: ir@symrise.com
WWW: http://www.symrise.com
sector: Chemicals
ISIN: DE000SYM9999
indexes: MDAX
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English