Symrise successfully acquires Manheimer Fragrances
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announcement.
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Symrise has successfully consummated its acquisition of US fragrance
manufacturer Manheimer Fragrances on November 6, 2008. In conjunction
with the purchase of Intercontinental Fragrances in September, this
acquisition makes the company one of the leading fragrance
manufacturers on the US air care market.
Completing acquisitions of both US fragrance manufacturers
significantly increases Symrise's overall share on the US fragrance
market and strengthens the company's position in the air care sector,
especially on the scented candles market. Both companies have enjoyed
above-average sales growth in recent years and are core-listed at key
consumer goods companies in the US.
The anticipated combined consideration for the transactions, which is
partially contingent on the attainment of certain milestones, will be
c $100 million. In 2008, the acquisitions will add c $10 million
dollars to Group sales. After integration costs are taken into
account, the Group EBITDA will not be materially impacted this year,
but Group earnings will be enhanced in 2009. Integration will be
completed in the first half of 2009.
Also in the works is a global air care center, located in the US,
where Symrise will bundle all of its research, development,
production and worldwide marketing activities for air fresheners.
About Symrise
Symrise is a global supplier of fragrances, flavorings and raw
materials and active ingredients for the perfume, cosmetics and food
industry.
Its sales of ¤1.27 billion in 2007 place the company among the top
four in the international flavors and fragrances market.
Headquartered in Holzminden, Germany, Symrise is represented in more
than 30 countries in Europe, Asia, the United States and South
America.
With more than 40 first patent applications per year, Symrise is one
of the most innovative manufacturers on the market. Used by
manufacturers of perfumes, cosmetics and foods, our products are an
inseparable part of daily life. At Symrise we combine an awareness of
consumer trends with cutting-edge technologies, focusing on
innovative fashion and lifestyle products that have additional
practical value for the consumer. Symrise - always inspiring more.
www.symrise.com
Contact: Katja Derow, red roses communications, phone: +49 40 46 96
770-10, e-mail: k.derow@redroses-pr.com
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Symrise AG
Mühlenfeldstraße 1 Holzminden Germany
WKN: SYM999; ISIN:
DE000SYM9999; Index: MDAX, TecDAX;
Listed: Amtlicher 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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