Corporate | Financial

— Transaction fully cleared by worker’s counsel and antitrust authorities

— Immediate start of smooth integration process

— Creating an unparalleled platform for natural ingredients and comprehen-sive raw material access

— Diana expected to be fully EPS accretive from 2015 onwards

Symrise AG successfully completed the acquisition of French Diana Group, one of the leading manufacturers of natural flavors and the global number 1 for pet food solutions. The takeover has been approved by the Diana worker’s council and cleared by the antitrust authorities. Symrise and Diana will now immediately initiate the smooth integration while at the same time remaining fully dedicated to their customers and services.

“We have successfully completed the acquisition of Diana which paves the way to now immediately integrate the activities of Symrise and Diana. We look forward to working together as our teams share the same entrepreneurial mindset, customer orientation and dedication for natural flavors and nutrition. To meet the growing consumer demand for naturally based solutions we will create an unparalleled platform for natural extracts and functional ingredients. In addition, we will significantly enhance our access to natural raw materials and tap into the in the pet food market. Symrise will therefore be very well positioned to continue its profitable growth,” said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG.

Symrise and Diana stand for pro-forma sales of EUR 2.3 billion. With its large portfolio of natural ingredients and extracts and its strong backward integration beyond fruit and vegetables, Diana ideally complements the activities of Symrise.

As part of the integration process Symrise will adapt its Flavor & Nutrition business in which Diana will be incorporated. Going forward, the Flavor & Nutrition segment will consist of two divisions. In the Flavors division, Symrise will concentrate on the development of flavors and flavor compounds. Symrise’s functional ingredients applications, Consumer Health and the nutrition activities will be integrated to Diana, which will in the future form the second division of the Flavor & Nutrition segment.

Symrise expects Diana to become earnings accretive from 2015 onwards. The integration will be implemented by joint project teams formed by employees of Symrise and Diana.

Symrise had announced the acquisition of Diana on April 12, 2014. Following the positive feedback from Diana’s employee representatives shortly afterwards as well as regulatory approval, the transaction has been closed on July 29, 2014. The transaction is valued at around EUR 1.3 billion and financed through a combination of equity and debt.

About Symrise:

Symrise is a global supplier of fragrances, flavorings, cosmetic active ingredients and raw materials as well as functional ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, the pharmaceutical industry and producers of nutritional supplements.

Its sales over EUR 1.8 billion in 2013 place Symrise among the top four companies in the global flavors and fragrances market. Headquartered in Holzminden, Germany, the Group is represented in over 35 countries in Europe, Africa, the Middle East, Asia, the United States and Latin America.

Symrise works with its clients to develop new ideas and market-ready concepts for products that form an indispensable part of everyday life. Economic success and corporate responsibility are inextricably linked as part of this process. Symrise thus takes sustainability into account in every part of its corporate strategy. The company was awarded the German Sustainability Award in 2012. Symrise – always inspiring more…

About Diana:

Diana is a world leader in natural functional solutions for the food, pet food, nutraceuticals, aquaculture and cosmetics industries, and technology leader in plant cell culture, dedicated to the production of active ingredients for food, cosmetics and health. Diana is improving the sensorial and nutritional performance of its customers’ products thanks to its unique biosciences expertise and helping them conquer new markets.

Media Contact:   

Bernhard Kott   
Phone +49 (0)5531 90-1721  

Investors Contact:

Tobias Erfurth
Phone +49 (0)5531 90-1879

>> PDF Press release in French