The announcement was made back in September that Symrise would pay $397m to acquire the business, when the company stated that, as well as fragrances, the acquisition would also serve to enhance its footprint in the oral care category thanks to Pinova’s menthol-based materials capabilities.
The transaction is due to be confirmed by January 6th, 2016, but Germany-based Symrise says that it is readying for the deal to be confirmed, adding to industry-leading sustainability projects that have included the sustainable sourcing of vanilla in Madagascar and the Symrise Amazon Program.
Renewables are the way forward
Increasingly ingredients providers are having to play their part as part of industry-wide efforts to raise the sustainability profile. Much of the pressure is coming from consumers, who are asking manufacturers to ensure the products they buy are minimizing their carbon footprints, and to meet this requirements manufacturers are putting the same pressure on throughout the supply chain in an effort to meet those consumer needs.
Based in Brunswick, Georgia, the Pinova business has been catching the eye of industry experts and competitors for a number of years as it has developed an increasingly varied and unusual portfolio of materials that are largely produced from natural by-products.
The company claims to be the world’s only producer of refined wood rosin and natural wood terpenes from renewable pine stumpwood to produce high performance resins used in not only the personal care field, but also food and beverage, as well as the construction and agricultural sectors.
Symrise targets a 'library' of materials from renewable resources
“Substances from natural, renewable sources are becoming increasingly important for the fragrance industry,” said Achim Daub, Symrise president Scent & Care.
“Our aim is to create a library of unique and innovative raw materials based on renewable resources.”
Daub went on to state the acquisition should serve to also increase Symrise’s supply chain security, as well as opening the doors to a greater opportunity for perfume and fragrance creation.