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Symrise Acquires Chr. Hansen Flavors |
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Tuesday, 15 July 2008 |
Flavor and fragrance manufacturer Symrise has signed an agreement to acquire the flavor business of Danish company Chr. Hansen. With this transaction, Symrise will continue to expand and enhance its presence in North America.
Chr. Hansen generates a substantial majority of its flavor sales in the USA. The acquisition is in line with Symrise's strategy of becoming a leading supplier in major flavor markets worldwide. Through this deal, Symrise will expand its market coverage in many areas including the dairy industry.
Further, Symrise will be able to offer its clients, existing and new, an expanded product portfolio. Symrise will add significant production capacity in North America and complement its sales force with a number of professionals. Chr. Hansen customers are expected to benefit from the global infrastructure, market knowledge and technical expertise of one of the leading flavor suppliers in the industry.
"The purchase of Chr. Hansen's flavor business is in line with Symrise's long-term strategy for selecting intelligent acquisitions that complement our product portfolio," says CEO Dr. Gerold Linzbach. "This is our biggest acquisition to date. It will strengthen Symrise's current industry position and accelerate our growth opportunities."
Dr. Heinz-Juergen Bertram, global president Flavor & Nutrition, adds "The client structure and core competences of both companies are a perfect match. Chr. Hansen offers us excellent research and application expertise and has technologies which complement our equipment. Combining our strengths will create new market possibilities and business models for us."
Lars Frederiksen, president and CEO of Chr. Hansen, says: "Symrise was our absolute favorite choice when it came to selling our flavor business. The company has all of the expertise and capabilities to better leverage the growth potential of the Chr. Hansen product portfolio."
Chr. Hansen was founded 1874 in Copenhagen, Denmark, by Danish pharmacist Chr. D. A. Hansen. With its four product divisions, Cultures and Enzymes, Health and Nutrition, Natural Colors and Flavors, Chr. Hansen specializes in natural ingredient solutions for many industries including the beverage one. The company has been owned by the PAI Partners capital fund since 2005. Both parties have agreed not to disclose the transaction price. Pending approval of the acquisition by the applicable regulatory authorities, the transaction is expected to be completed by April 2008.
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