Symrise Expands in Brazil With Acquisition

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A shot of Brazil

Symrise has announced the acquisition of Citratus Fragrâncias Indûstria e Comércio Ltda, in an effort to expand its influence in Latin America and Brazil.

For over 25 years, Citratus has served small and medium-sized fragrance customers in the Brazilian market and has built relationships with the natural fragrance material providers in the region. With this acquisition, Symrise will be able to better serve its costumers in Brazil. Currently, Citratus generates $12 million in sales, per 2016 figures, and employs 86 people.

“Brazil is a growth engine in Latin America. We have been growing above average there for years, particularly due to fragrance applications,” said Achim Daub, global president scent and care within Symrise Group. “The acquisition of Citratus is thus a logical step. It fully supports our strategy of increasing our presence and position in emerging markets. Through the acquisition, Symrise will become the market leader for small and medium-sized customers. We will benefit from even better access to new customer groups, additional production capacities and further raw material supply.”

The closing of the transaction will take place in January 2018. Financial details of the deal have not been disclosed.