Symrise acquires Futura Labs Group
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* Expansion in dynamic North African and Gulf regions
* Creation of the new market leader in Egypt
* Excellent fit of regional product portfolio and client base
* Track record of stable growth and profitability
Symrise has signed an agreement about the acquisition of the Futura
Labs Group, a leading flavors and fragrances manufacturer in Egypt
and the United Arab Emirates. With this acquisition, Symrise expands
its footprint in several large and attractive markets in this region
and creates the new market leader in Egypt. The product portfolio and
client list of Futura Labs have an excellent fit with the existing
operations of Symrise in Egypt.
The acquisition is a significant step in expanding the presence of
Symrise in Egypt, a fast-growing market with a population of 80
million, and in the dynamic Gulf region. Futura Labs is a privately
held group headquartered in Cairo and the leading local manufacturer
of flavors, emulsions and beverage compounds, extracts, seasonings
and fragrances. It owns development and production facilities in
Cairo and a recently established production facility in Dubai. The
personnel have an in-depth knowledge about the local taste
preferences and consumer's demands.
The group has an excellent track record in sales growth and
profitability and increased its revenues to 15.1 million US$ in 2008.
Dr. Heinz-Jürgen Bertram, Chief Executive Officer of Symrise, said:
"With the acquisition of Futura Labs, Symrise is again emphasizing
its focus on dynamic emerging markets. We are strengthening our
presence in North Africa and the Middle East which both have strong
potential for further growth. Futura Labs has an attractive base of
international and regional clients and adds valuable new products to
our existing portfolio in this region. The transaction will enable us
to expand our market share while at the same time leveraging
synergies in sales and production."
The combination of Futura Labs with the existing operations of
Symrise in the region will create the new market leader in Egypt, a
dynamic flavor market which grows on a much higher level as
traditional mature markets. The company has significant modern
production capacity and an efficient supply chain organization. It
has a particularly strong position in the beverages industry, and its
new production facility for aseptic beverage compounds in Dubai will
provide Symrise with access to the beverage industry in the Middle
East.
Symrise will acquire 100% of the shares of the Futura Labs Group.
Both parties have agreed not to disclose the transaction price. The
acquisition is subject to customary conditions and is expected to be
closed in the first quarter of 2010. The founder and current majority
owner of Futura Labs, Dr. Karim Greiss will continue to manage the
businesses following their integration into the Symrise Group.
About Symrise
Symrise is a global supplier of fragrances, flavorings and raw
materials as well as active ingredients for the perfume, cosmetics
and food industry.
Its sales of ¤ 1.32 billion in 2008 place the Company among the top
four in the international flavor and fragrance market. Headquartered
in Holzminden, Germany, Symrise is represented in more than 35
countries in Europe, Asia, the United States and South America.
Used by manufacturers of perfumes, cosmetics and foods, our
innovative products are an inseparable part of daily life. At Symrise
we combine an awareness of consumer trends with cutting-edge
technologies, focusing on developing innovative fashion and lifestyle
products that have additional practical value for the consumer.
Symrise - always inspiring more.
www.symrise.com
For press queries, contact: For investor queries, contact:
Bernhard Kott Dr. Andrea Rolvering
Tel. +49 (0)5531 90-1721 Tel. +49 (0)69 75 93 75 94
bernhard.kott@symrise.com andrea.rolvering@symrise.com
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Symrise AG
Mühlenfeldstraße 1 Holzminden Germany
WKN: SYM999; ISIN:
DE000SYM9999; Index: MDAX, TecDAX;
Listed: Regulierter Markt in Frankfurter Wertpapierbörse, Freiverkehr
in Bayerische Börse München,
Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr
in Börse Berlin,
Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Stuttgart,
Prime Standard in Frankfurter Wertpapierbörse;
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