EANS-News: Symrise AG Acquires American Fragrance Manufacturer Belmay
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Subtitle: Takeover of Belmays global fragrance activities
Strategic step in the expansion of the fragrance business with a focus on
fine fragrances, personal care and air care
Increased market penetration and access to new customer groups, especially in
North America
Company Information
Holzminden / Teterboro (USA) March 4, 2013 (euro adhoc) - Symrise has acquired
the global fragrance business of the Belmay Group, an international developer
and manufacturer of fragrances and perfume oils, effective today. With this
acquisition, Symrise is taking another strategically important step towards
sustainable growth in the fine fragrance, personal care and air care segment.
Both Belmay's product and customer portfolios complement the existing activities
of Symrise's Scent & Care division and support its plans for growth. While the
acquisition strengthens Symrise's business globally, it also adds specific value
to the company's growing presence in North America, which is Belmay's core
market. The companies have agreed to keep the purchase price confidential.
The Belmay Group, headquartered in Yonkers, New York, is an established and
renowned developer and manufacturer of fragrance creations, particularly in the
segments fine fragrances, cosmetics and air care. Belmay has been on a stable
and profitable growth trajectory for years and generated fragrance sales of
around US$ 60 million in the 2012 fiscal year. At the beginning of 2012, Symrise
took over Belmay's Brazilian fragrance business, which has been integrated into
local operations successfully.
Dr. Heinz-Jürgen Bertram, CEO of Symrise, said: "Symrise aims at profitable
growth and continuously expands its activities in market segments that are
growing dynamically. The market for air care products, for example, has been
experiencing above-average growth for the past few years. This holds true on an
international level and especially for North America, where demand for air care
products is particularly strong. Belmay has a strong market position and has
been operating profitably for years. With this acquisition, we are further
en-hancing Symrise's profile and gaining access to exciting new customer
groups."
In its seventy-seven-year history the Belmay Group has gradually expanded its
operations and grown from being a North American business into an internatio-nal
company with sales markets in Europe, Latin America and Asia. With this
acquisition, Symrise is taking over Belmay's entire existing fragrance customer
and product portfolio, the expertise of its research and development
department, qualified specialists as well as selected property, plant and
equipment.
Belmay's CEO, Ted Kesten, will continue to own his company known as Scent 2
Market, a design, development and supply chain management company in the air
care segment. Symrise and Scent 2 Market have also entered into an exclusive
supply agreement. In accordance with that agreement, S2M will work closely with
Symrise to satisfy its fragrance compound needs.
Achim Daub, President of the Scent & Care division, said: "Belmay's product and
customer portfolio perfectly complements Symrise's portfolio. This will expand
our range of products in the area of fine fragrances considerably as well as
enhance our expertise in the air care segment. That allows us to serve our
customers even better and more efficiently in the future. The transaction also
provides us with the opportunity to leverage synergies, which will improve our
competitiveness."
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 1.584 billion in 2011 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:
Contact
Media
Bernhard Kott
phone +49 (0)5531 90-1721
bernhard.kott@symrise.com
Investors
Tobias Erfurth
phone +49 (0)5531 90-1879
tobias.erfurth@symrise.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
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