Symrise AG has increased its stake to 49% in the US company Kobo Products Inc., a pigment and powder specialist.
WHO: New Jersey–based Kobo Products Inc. is a pigment and powder specialist that provides innovative, technology-based raw materials to the cosmetics industry. These include the comprehensive color range of surface-treated pigments and dispersions for makeup products and market-leading mineral sunscreen products. Kobo owns group companies in the United States, France, Brazil, and the United Kingdom. It also holds a majority stake in a joint venture in Japan. The company is represented worldwide by independent agents in more than 30 countries. A diverse and inclusive company, Kobo employs approximately 170 people worldwide.
Based in Holzminden, Germany, 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. The Symrise Cosmetic Ingredients division is a global leader in developing beauty market solutions. The group is capitalizing from over 100 years of experience in developing and marketing cosmetic ingredients and the ability to intertwine the best of nature, science, as well as skin and hair biology.
WHY: The partnership with Kobo began in 2021 and has successfully evolved. This transaction creates further opportunities for both companies in mineral UV filters and decorative cosmetics. The funds raised will be used to expand capacity and enhance the supply chain to continue its growth trajectory and further optimize its business operations.
IN THEIR OWN WORDS: “Kobo Products Inc. is the perfect partner for our activities in the field of inorganic sunscreen filters and color solutions for decorative cosmetics,” said Dr. Jörn Andreas, the Executive Board member responsible for Scent & Care at Symrise. “With its innovative product range, Kobo perfectly complements our own portfolio. The corporate cultures of Kobo and Symrise also harmonize on all levels. For all these reasons, we feel very happy about this second investment and the expression of our confidence in Kobo that it makes.”
“Symrise has established itself as a reliable and trusted partner over the past two years,” said David Schlossman, President and majority owner of Kobo Products Inc. “Their second investment is exactly the commitment we were seeking in a partnership of this kind. The Symrise teams have been extremely welcoming to us and engaged in the products. We have a lot of exciting work ahead that will surely create new opportunities for our customers and employees.”
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