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Analyzing the Symrise-Manheimer-Intercontinental Deal
Posted: October 13, 2008
page 2 of 2
"In addition to Asia, the US is the most important growth region for our Scent & Care division“, said North American scent and care president Klaus Stanzl, in an official statement. “Winning new industrial and retail partners will strengthen our market position in North America and accelerate our growth. The synergies of these two companies will make Symrise one of the leading North American suppliers of air care fragrances. Furthermore, having a larger portfolio of certified organic and fair-trade ingredients will help us meet our customers' growing demand worldwide for sustainable products."
According to the company:
The anticipated combined consideration for the transactions, which is partially contingent on the attainment of certain milestones, will be $100 million. In 2008, the acquisitions will add $12 million dollars to Group sales, assuming closure of the Manheimer transaction towards the end of October. 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.