Symrise acquires Futura Labs Group
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ * Expansion in dynamic North African and Gulf regions * Creation of the new market leader in Egypt * Excellent fit of regional product portfolio and client base * Track record of stable growth and profitabilitySymrise has signed an agreement about the acquisition of the FuturaLabs Group, a leading flavors and fragrances manufacturer in Egyptand the United Arab Emirates. With this acquisition, Symrise expandsits footprint in several large and attractive markets in this regionand creates the new market leader in Egypt. The product portfolio andclient list of Futura Labs have an excellent fit with the existingoperations of Symrise in Egypt.The acquisition is a significant step in expanding the presence ofSymrise in Egypt, a fast-growing market with a population of 80million, and in the dynamic Gulf region. Futura Labs is a privatelyheld group headquartered in Cairo and the leading local manufacturerof flavors, emulsions and beverage compounds, extracts, seasoningsand fragrances. It owns development and production facilities inCairo and a recently established production facility in Dubai. Thepersonnel have an in-depth knowledge about the local tastepreferences and consumer's demands.The group has an excellent track record in sales growth andprofitability and increased its revenues to 15.1 million US$ in 2008.Dr. Heinz-Jürgen Bertram, Chief Executive Officer of Symrise, said:"With the acquisition of Futura Labs, Symrise is again emphasizingits focus on dynamic emerging markets. We are strengthening ourpresence in North Africa and the Middle East which both have strongpotential for further growth. Futura Labs has an attractive base ofinternational and regional clients and adds valuable new products toour existing portfolio in this region. The transaction will enable usto expand our market share while at the same time leveragingsynergies in sales and production."The combination of Futura Labs with the existing operations ofSymrise in the region will create the new market leader in Egypt, adynamic flavor market which grows on a much higher level astraditional mature markets. The company has significant modernproduction capacity and an efficient supply chain organization. Ithas a particularly strong position in the beverages industry, and itsnew production facility for aseptic beverage compounds in Dubai willprovide Symrise with access to the beverage industry in the MiddleEast.Symrise will acquire 100% of the shares of the Futura Labs Group.Both parties have agreed not to disclose the transaction price. Theacquisition is subject to customary conditions and is expected to beclosed in the first quarter of 2010. The founder and current majorityowner of Futura Labs, Dr. Karim Greiss will continue to manage thebusinesses following their integration into the Symrise Group.About SymriseSymrise is a global supplier of fragrances, flavorings and rawmaterials as well as active ingredients for the perfume, cosmeticsand food industry.Its sales of ? 1.32 billion in 2008 place the Company among the topfour in the international flavor and fragrance market. Headquarteredin Holzminden, Germany, Symrise is represented in more than 35countries in Europe, Asia, the United States and South America.Used by manufacturers of perfumes, cosmetics and foods, ourinnovative products are an inseparable part of daily life. At Symrisewe combine an awareness of consumer trends with cutting-edgetechnologies, focusing on developing innovative fashion and lifestyleproducts that have additional practical value for the consumer.Symrise - always inspiring more.www.symrise.comFor press queries, contact: For investor queries, contact:Bernhard Kott Dr. Andrea RolveringTel. +49 (0)5531 90-1721 Tel. +49 (0)69 75 93 75 94bernhard.kott(at)symrise.com andrea.rolvering(at)symrise.comhttp://hugin.info/137217/R/1355914/329321.pdf --- End of Message ---Symrise AGMühlenfeldstraÿe 1 Holzminden GermanyWKN: SYM999; ISIN: DE000SYM9999; Index: MDAX, TecDAX;Listed: Regulierter 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;
Datum: 18.11.2009 - 15:30 Uhr
Sprache: Deutsch
News-ID 8578
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