BAYER ACQUIRES FLORASYNTH
NEW YORK — German chemicals giant Bayer AG has acquired Florasynth, a privately held U.S. flavors and fragrance manufacturer.
Florasynth, headquartered in Teterboro, N.J., will operate as a separate company within Bayer’s Haarman & Reimer Group. Jack N. Friedman will remain Florasynth chairman.
Florasynth’s volume will boost H&R’s worldwide yearly sales by about $190 million to more than $1.15 billion, Bayer said.
Terms of the acquisition were not disclosed.
Florasynth’s main markets are the U.S., Western Europe and the Asia- Pacific region. The company has about 900 employees. The deal is expected to close before July 1.