DGAP-News: Symrise AG / Key word(s): Takeover/Expansion
Citratus is looking back to 26 years of very successfully serving the Brazilian market for small and medium-sized fragrance customers. It is running a modern development and production facility in the city of Vinhedo, only 45 minutes away from Sa?o Paulo. In addition it maintains sales representations throughout Brazil. Over the last decades Citratus has built well established business relations to fast growing, local customers in the fragrance industry as well as to important suppliers of natural fragrance raw materials. The Company can leverage existing production capacities to maintain its organic growth in the future. Citratus generated sales of about 12 million US dollars in 2016 and employs 86 people.
"Brazil is a growth engine in Latin America. We have been growing above average there for years, particularly due to fragrance applications," says Achim Daub, Global President Scent & Care within Symrise Group. "The acquisition of Citratus is thus a logical step. It fully supports our strategy of increasing our presence and position in emerging markets. Through the acquisition Symrise will become the market leader for small and medium-sized customers. We will benefit from even better access to new customer groups, additional production capacities and further raw material supply."
Symrise has been present in Latin America for more than five decades. The Group is serving its customers in Brazil through own production and creation facilities in greater Sa?o Paulo as well as in the Amazon region through its facility in Belém, Pará. Both parties have agreed not to disclose financial details of the acquisition. Closing of the transaction is expected to take place in January 2018.
About Symrise Symrise is a global supplier of fragrances, flavorings, cosmetic base materials and substances as well as functional ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, the pharmaceutical industry and producers of nutritional supplements and pet food. www.symrise.com
Social Media: twitter.com/symriseag
06.12.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Symrise AG |
Mühlenfeldstraße 1 | |
37603 Holzminden | |
Germany | |
Phone: | +49 (0)5531 90 0 |
E-mail: | ir@symrise.com |
Internet: | www.symrise.com |
ISIN: | DE000SYM9999, DE000SYM7787, DE000SYM7704 |
WKN: | SYM999 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |
636123 06.12.2017