BERLIN — Fragrance and flavors giant Symrise has acquired the Belmay Group.
Symrise, which is headquartered in Holzminden, Germany, will take over the existing customer and product portfolio, research and development departments, and selected property and equipment from Yonkers, N.Y.-based Belmay, which specializes in fragrances and perfume oils. The move, effective today, will expand Symrise’s presence in North America, the company said, and the deal will also expand activities in market segments such as hair care. Symrise had already acquired Belmay’s Brazilian fragrance business at the start of 2012.
“Belmay has a strong market position and has been operating profitably for years. With this acquisition, we are further enhancing Symrise’s profile and gaining access to exciting new customer groups,” stated Heinz-Jürgen Bertram, chief executive officer of Symrise.
Belmay reported 2012 fragrance sales close to $60 million, while Symrise’s last registered full-year figures, for 2011, amount to 1.58 billion euros, or $2.21 billion at average exchange rate for the period. Symrise will release its 2012 fiscal year figures on March 12.