Symrise has acquired the global fragrance business of the Belmay Group, an international developer and manufacturer of fragrances and perfume oils. With this acquisition, Symrise is taking another strategically important step towards sustainable growth in the fine fragrance, personal care and air care segment.
The Belmay Group, headquartered in Yonkers, New York, is an established and renowned developer and manufacturer of fragrance creations, particularly in 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 enhancing Symrise’s profile and gaining access to exciting new customer groups.”
