Symrise AG has reached a milestone towards the successful completion of the acquisition of ADF/IDF, a leading U.S. meat and egg-based protein specialist and pioneer in all-natural nutrition ingredients. Symrise has received antitrust clearance from the Antitrust Division of the U.S. Department of Justice in relation to the acquisition of ADF/IDF. As a condition to this clearance, Symrise has committed to divest its manufacturing facility in Banks, Georgia.
To fulfil this condition, Symrise has signed an agreement regarding the sale of Banks facility and related business. This will not impact the strategic rationale of the ADF/IDF acquisition. With its comprehensive portfolio of all-natural ingredients for food and pet food markets, ADF/IDF will complement the Nutrition portfolio and contribute to a highly diversified range of natural ingredients based solutions. The closing of the ADF/IDF is expected within the next weeks.
Symrise announced the acquisition of ADF/IDF which was valued at USD 900 million, on January 31, 2019. The transaction has been financed through a combination of debt and equity.