Symrise AG, the parent company of Diana Pet Foods which supplies palatants to the pet food industry, recently announced that it has signed a purchase agreement for the acquisition of Wing Pet Food. Acquiring the Chinese leader in pet food palatability will extend Symrise’s access to the Asia/Pacific (APAC) markets. In 2020, the annual sales of Wing Pet Food amounted to around EUR 25 million (US$27.6 million).
“The acquisition of Wing Pet Food is an excellent opportunity for Symrise to further strengthen its leading position in pet food and expand its footprint in the APAC region, where we see a great growth potential,” said Dr. Jean-Yves Parisot, president flavor and nutrition of Symrise AG. “With the transaction we extend our access to additional customers and further diversify our portfolio in the pet food application area.”
Wing Pet Food, headquartered in Shanghai, China, is a supplier of pet food palatability, nutrition and pet food protection solutions. Symrise will expand its capabilities with the use of Wing Pet Food’s state-of-the-art research and development center, two production sites and around 200 employees, according to a press release.
“I am very enthusiastic about this transaction. Our two organizations are fully complementary and joining forces will be mutually beneficial,” said Yin Jun, CEO of Wing Pet Food. “Combining our portfolios, our capabilities and strong customer relationships will further strengthen our competitive position.”
Other Symrise acquisitions
Adding to its egg-based protein specialties, Symrise recently acquired Schaffelaarbos the Netherlands-based market leader for egg protein in pet food. Two years earlier, in February 2019, Symrise signed a purchase agreement to acquire American Dehydrated Foods (ADF)/ International Dehydrated Foods (IDF) a natural nutrition ingredient provider. With the acquisition of ADF/IDF, Symrise leveraged its leadership position in pet food.
Back in 2014, Symrise completed the purchase of Diana Pet Foods with a EUR 1.3 billion (US$1.75M billion) purchase price. At the time of purchase acquiring Diana Pet Foods made Symrise the worlds third-largest scents and flavors company.
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