Terms of the deal were not disclosed.
Sensient’s fragrance and aroma chemicals business unit, based in Milwaukee, Wisc., manufactures aroma molecules and scents coming from natural and renewable sources. In 2019, it registered sales of about 77 million euros.
Demand for naturals has been mounting steeply from beauty consumers and brands, especially nowadays in the fragrance, hygiene and other functional products spaces.
“With this acquisition, Symrise will strengthen its backward integration and broaden its leadership position as a supplier of fragrance ingredients, which are increasingly in demand for use, especially in personal and home-care products,” the Holzminden, Germany-based fragrance and flavors supplier said in a statement Monday.
“Symrise will furthermore gain access to additional customers and strengthen its presence particularly in EAME and Latin America,” the group continued. “Going forward, Symrise plans to also strengthen its manufacturing footprint in Spain with targeted investments in the manufacturing site in Granada that will be acquired.”
You May Also Like
“With the Sensient activities, Symrise is expanding its range of fragrance ingredients and will thus boost its competitiveness in the creation of fragrance compositions,” Heinz-Jürgen Bertram, chief executive officer of Symrise, said in the statement.
“In view of the increasing importance of natural and renewable raw materials for the fragrance industry, the new product range ideally complements our current portfolio,” he said.
The Sensient unit supplies out of manufacturing sites in Spain and Mexico. Its aroma molecules and fragrance solutions are mostly culled from renewable raw materials, such as citrus byproducts and pine oil.
Sensient’s palette will be used in products such as fragrance, shampoo, soap, detergent and antiperspirants.
“Through this acquisition, Symrise will not only be able to significantly expand its renewable ingredients portfolio, but to also increase its green chemistry value chain, which includes various downstream products coming from sustainable cultivated sources,” Symrise said.
The group said it plans to combine Sensient’s fragrance and aroma chemicals research and development know-how and manufacturing capabilities with portions of its own at the site in Granada, Spain.
“Over a period of three years, targeted investments will be made to grow the Granada site and make it the second-largest compounding facility in EAME for fragrance ingredients and compounds,” Symrise said.
Other recent deals in the natural ingredient space include Eurazeo last week revealing that it is selling its stake in Iberchem, a Spanish natural fragrance and flavors ingredient-maker, to Croda International, a U.K.-based specialty chemicals concern. Under terms of the deal, Iberchem was valued at 820 million euros.
For more, see: