29.07.2014
Symrise AG DE000SYM9999
DGAP-News: Symrise AG: Symrise AG successfully closes acquisition of Diana Group
DGAP-News: Symrise AG / Key word(s): Acquisition/Mergers &
Acquisitions
Symrise AG: Symrise AG successfully closes acquisition of Diana Group
29.07.2014 / 12:18
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- Transaction fully cleared by worker's counsel and antitrust authorities
- Immediate start of smooth integration process
- Creating an unparalleled platform for natural ingredients and
comprehensive raw material access
- Diana expected to be fully EPS accretive from 2015 onwards
Symrise AG successfully completed the acquisition of French Diana Group,
one of the leading manufacturers of natural flavors and the global number 1
for pet food solutions. The takeover has been approved by the Diana
worker's council and cleared by the antitrust authorities. Symrise and
Diana will now immediately initiate the smooth integration while at the
same time remaining fully dedicated to their customers and services.
"We have successfully completed the acquisition of Diana which paves the
way to now immediately integrate the activities of Symrise and Diana. We
look forward to working together as our teams share the same
entrepreneurial mindset, customer orientation and dedication for natural
flavors and nutrition. To meet the growing consumer demand for naturally
based solutions we will create an unparalleled platform for natural
extracts and functional ingredients. In addition, we will significantly
enhance our access to natural raw materials and tap into the in the pet
food market. Symrise will therefore be very well positioned to continue its
profitable growth," said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG.
Symrise and Diana stand for pro-forma sales of EUR 2.3 billion. With its
large portfolio of natural ingredients and extracts and its strong backward
integration beyond fruit and vegetables, Diana ideally complements the
activities of Symrise.
As part of the integration process Symrise will adapt its Flavor &
Nutrition business in which Diana will be incorporated. Going forward, the
Flavor & Nutrition segment will consist of two divisions. In the Flavors
division, Symrise will concentrate on the development of flavors and flavor
compounds. Symrise's functional ingredients applications, Consumer Health
and the nutrition activities will be integrated to Diana, which will in the
future form the second division of the Flavor & Nutrition segment.
Symrise expects Diana to become earnings accretive from 2015 onwards. The
integration will be implemented by joint project teams formed by employees
of Symrise and Diana.
Symrise had announced the acquisition of Diana on April 12, 2014. Following
the positive feedback from Diana's employee representatives shortly
afterwards as well as regulatory approval, the transaction has been closed
on July 29, 2014. The transaction is valued at around EUR 1.3 billion and
financed through a combination of equity and debt.
About Symrise:
Symrise is a global supplier of fragrances, flavorings, cosmetic active
ingredients and raw materials as well as functional ingredients. Its
clients include manufacturers of perfumes, cosmetics, food and beverages,
the pharmaceutical industry and producers of nutritional supplements.
Its sales over EUR 1.8 billion in 2013 place Symrise among the top four
companies in the global flavors and fragrances market. Headquartered in
Holzminden, Germany, the Group is represented in over 35 countries in
Europe, Africa, the Middle East, Asia, the United States and Latin America.
Symrise works with its clients to develop new ideas and market-ready
concepts for products that form an indispensable part of everyday life.
Economic success and corporate responsibility are inextricably linked as
part of this process. Symrise thus takes sustainability into account in
every part of its corporate strategy. The company was awarded the German
Sustainability Award in 2012. Symrise - always inspiring more.
About Diana:
Diana is a world leader in natural functional solutions for the food, pet
food, nutraceuticals, aquaculture and cosmetics industries, and technology
leader in plant cell culture, dedicated to the production of active
ingredients for food, cosmetics and health. Diana is improving the
sensorial and nutritional performance of its customers' products thanks to
its unique biosciences expertise and helping them conquer new markets.
Media Contact:
Bernhard Kott
Phone +49 (0)5531 90-1721
[email protected]
Investors Contact:
Tobias Erfurth
Phone +49 (0)5531 90-1879
[email protected]
End of Corporate News
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29.07.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Symrise AG
Mühlenfeldstraße 1
37603 Holzminden
Germany
Phone: +49 (0)5531 90 0
E-mail: [email protected]
Internet: www.symrise.com
ISIN: DE000SYM9999
WKN: SYM999
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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279729 29.07.2014
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