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Reuters: Ajinomoto-Symrise Deal Possible, Not Probable

Posted: July 11, 2014

Ajinomoto is exploring options for a potential acquisition of Symrise, according to a report from Reuters.

The move comes in the wake of Symrise's deal for Diana, as well as ADM's successful acquisition of Wild Flavors.

However, the Reuters story includes a strong note of caution:

"We believe that Ajinomoto is planning a major acquisition. However, Symrise is not likely to be Ajinomoto s preferred target," DZ Bank analyst Thomas Maul said. He said reports that Ajinomoto had also made offers for Wild Flavors and Diana indicated the Japanese group was interested in acquiring food and pet food businesses, while 40 percent of Symrise's business was in non-food segments. Also, some analysts said any buyer of Symrise would likely have to pay between 7 billion euros and 8 billion, which could prove too expensive for Ajinomoto.