Symrise AG closes acquisition of Diana Group

Symrise AG has successfully completed the acquisition of the French Diana Group. Diana is one of the leading manufacturers of natural flavours and the global number 1 for pet food solutions. Germany-based Symrise is a global supplier of fragrances, flavourings, cosmetic active ingredients and raw materials as well as functional ingredients. The takeover, which was announced on 12 April, has been approved by the Diana workers’ council and cleared by the anti-trust authorities. As part of the integration process, Symrise will adapt its flavour & nutrition business, into which Diana will be incorporated. Going forward, the flavour & nutrition segment will consist of two divisions. In the Flavours division, Symrise will concentrate on the development of flavours and flavour compounds. Symrise’s functional ingredients applications, consumer health and nutrition activities will be integrated into Diana, which will in future form the second division of the flavour & nutrition segment.The transaction is valued at around € 1.3 bn and will be financed through a combination of equity and debt.