Symrise AG has signed a purchase agreement with Sensient Technologies Corporation (Milwaukee, US) to acquire their fragrance and aroma chemicals activities.
These comprise a wide range of aroma molecules and fragrances from natural and renewable sources. 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.
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 organisation. This allows us to focus on our strategic priorities.”
