“We are pleased to be able to transition our fragrances and aroma chemical business to Symrise, an extremely strong and capable organization,” says Paul Manning, Chairman, President, and CEO of Sensient, in this week’s media release about the acquisition deal.
“This allows us to focus on our strategic priorities,” adds Manning. Sensient currently specializes in 3 sorts of product solutions: colors, flavors, and fragrances, serving an array of industries including food and beverage, pharma, agriculture, and cosmetics.
Symrise is buying up fragrance for personal care in key regions around the world
The acquisition makes Symrise much stronger in the personal care (and home care) fragrance inputs business. Sensient Technologies’ fragrance assets comprise “a wide range of aroma molecules and fragrances from natural and renewable sources;” it’s a business that created about €77m in revenue during fiscal year 2019, according to this week’s media release from Symrise.
Sensient molecules and fragrance inputs are commonly used in fine fragrance blends as well as in scented personal care products such as hair care, soaps, and antiperspirants.
The acquisition deal gives Syrise some regional advantages too, both in the EMEA region and in Latin America. And this acquisition is part of a larger strategy by the flavors and fragrance producer to boost business in Europe—Spain in particular. “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,” notes the release.
Latest Symrise acquisition spotlights renewable fragrance and green-chemistry technologies
“We constantly screen strategic opportunities in continuation of our ambitions in certain growth segments and also make bold steps in challenging times,” Dr. Heinz-Jürgen Bertram, CEO of Symrise AG, tells the press as he describes the company’s acquisition strategy and the deal with Sensient in particular.
“With the Sensient activities, Symrise is expanding its range of fragrance ingredients and will thus boost its competitiveness in the creation of fragrance compositions,” adds Bertram.
Sensient produces many of its fragrance inputs and aroma molecules from renewable sources or by upcycling what would otherwise be waste. A couple of examples shared in this week’s media release a derivative of pine oil and upcycled citrus byproducts.
And this approach to scent is a crucial aspect of the acquisition, says Bertram: “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. We are convinced that we will once more fully deliver on our strategic priorities with this acquisition. We drive growth while at the same time strengthening our leadership position in fragrance ingredients and green chemistry.”