Symrise completes Diana Group acquisition
Integration to begin immediately, says company
Symrise AG has completed the acquisition of French Diana Group, a manufacturer of natural flavors. The EUR 1.3 billion (US$1.75 billion) takeover has been approved by the Diana worker’s council and cleared by the antitrust authorities. Symrise and Diana will immediately initiate the smooth integration while at the same time remaining fully dedicated to their customers and services, according to Symrise.
“We look forward to working together as our teams share the same entrepreneurial mindset, customer orientation and dedication for natural flavors and nutrition," said Dr. Heinz-JÃ¼rgen Bertram, CEO of Symrise. "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 petfood market. Symrise will therefore be very well positioned to continue its profitable growth.”
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.