The acquisition of the Diana Group has positioned Symrise as a market leader in the pet food industry, enabling the company to offer innovative solutions that meet the demands of modern pet owners. By combining its expertise in flavor and fragrance with Diana's knowledge of the pet food world, Symrise pushed the boundaries of innovation, creating products that enhance the quality of life for pets and their owners alike.
The biggest coup in Symrise history
Symrise’s 2014 acquisition of the Diana Group was a milestone, not just for Symrise, but also for the evolving pet food and pet care industry. It proved to be a forward-thinking business move, with Symrise pushing the boundaries of innovation yet again.
In 2014, Symrise made a bold and pioneering move by acquiring the Diana Group, a global leader in natural and nutritional ingredients. “The biggest coup in Symrise history” was the press reaction when the plans for the acquisition were made public. At the time, it made Symrise the third largest supplier of flavors and fragrances, primarily strengthening the company’s position as a backward integrated flavor manufacturer. The acquisition also marked a significant milestone for Symrise, as it expanded its reach into the highly attractive pet food and pet care market, a sector experiencing rapid growth. Thanks to this forward-thinking move, Symrise was not just in a leading position in the pet food market, basically over night, but it was the first step of shaping the pet food industry. Many steps, and further acquisitions, have since followed.
How it all began
Negotiations had begun back in autumn of 2013. “We systematically approached the company, with which we had already had a business relationship,” Chief Executive Officer Dr. Heinz-Jürgen Bertram said at the time. When the company then became available for sale and a bidding process was opened, Symrise was able to participate and made it to the last round along with four other companies. Significantly larger bidders were also part of this. “Not everyone thought we could do this,” Dr. Heinz-Jürgen Bertram proudly reported back then.
The company fitted perfectly into the strategic concept of Symrise to grow sustainably. The integration of Diana as an independent division created a platform unique in the industry: It provided Symrise with new possibilities for profitable growth beyond the company’s usual target markets and contributed to future value creation. Diana and Symrise were not only a perfect match in economic terms, the DNA of the two companies was also very similar.
Pushing the envelope
The integration fostered knowledge sharing in research and development, providing access to new technologies and operational infrastructure. As a result, Symrise has been able to deliver high-value, sustainable solutions that improve pets' well-being and increase pet owner satisfaction. But not only that: ten years later, former Diana CEO Dr Jean-Yves Parisot became CEO of Symrise, taking over the reins from Dr. Heinz-Jürgen Bertram. Another case in point for a successful integration.
Since then, a key component of Symrise's success in the pet food industry is its innovative R&D approach. With a team of over 100 scientists, including flavorists, ethologists, and veterinarians, Symrise leverages insights from pets, owners, and manufacturers to develop fresh solutions. The company's Panelis measurement centers, located in France, the USA, Brazil and China, play a crucial role in understanding pet preferences and behaviors around the meal. These centers house over 1100 dogs and cats, providing valuable insights that informs product development.