Symrise AG (Holzminden, Germany) has closed its acquisition of Diana Group. The transaction was valued at about 1.3 billion euros. The combined Symrise and Diana represent pro-forma sales of 2.3 billion euros, according to Symrise.
Symrise will begin the process of integrating Diana's natural flavors and pet food solutions activities, and leveraging Diana's portfolio of natural ingredients, extracts and backward-integrated supply chain.
Diana will be incorporated into Symrise's existing flavor and nutrition business, which will now comprise two divisions: flavors, which will center on flavors and flavor compounds, and a second division focused on functional ingredient applications, consumer health and nutrition activities. Diana will be integrated into this second division.
“We have successfully completed the acquisition of Diana which paves the way to now immediately integrate the activities of Symrise and Diana," said Heinz-Jürgen Bertram, CEO of Symrise AG. "We look for-ward 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."