Symrise has signed a purchase agreement for the fragrance and aroma chemicals business of Sensient Technologies Corporation. These comprise a wide range of aroma molecules and fragrances from natural and renewable sources.
WHO: 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.
Symrise is a global supplier of inspiring fragrances, flavors, natural nutrition, and cosmetic ingredients solutions. With a market share of 10% (2018), Symrise is one of the world’s top suppliers in the flavor and fragrance market. The company has three segments: Flavor, Nutrition, and Scent & Care.
WHY: The portfolio will strengthen the Symrise products line with unique fragrance ingredients used in applications 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 also increase its green chemistry value chain, which includes various downstream products coming from sustainable cultivated sources. The deal represents further expansion of the company’s customer base and presence, particularly in EAME and Latin America.
IN THEIR OWN WORDS: “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.
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.”
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