THE WHAT? Flavors & fragrance business Symrise is to expand its Scent & Care activity following the acquisition of Sensient Technologies Corporation’s fragrance business.
THE DETAILS Entering into a definitive agreement, Symrise will be acquiring Sensient’s aroma chemical and fragrance compound production facility and headquarters in Granada, Spain, with the deal expected to be finalized in the first half of 2021 following regulatory approval.
Sensient’s fragrance and aroma chemicals activities include a range of aroma molecules and fragrances from natural and renewable sources.
Dr. Heinz-Jürgen Bertram, CEO of Symrise AG, said, “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.”
THE WHY? The acquisition will allow Symrise to access a wider audience, strengthening its presence in EAME and Latin America amongst other regions.
Discussing the ongoing demand for natural products, Bertram continued, “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.”