Symrise intends to strengthen its Fine Fragrance division with an expansion in Grasse, the French capital of perfume

DGAP-News: Symrise AG / Keyword(s): Takeover
22.03.2022 / 14:00
The issuer is solely responsible for the content of this announcement.

  • Firm offer submitted to the owners of SFA Romani

  • In addition, the full acquisition of the Neroli Group, planned to strengthen ties with this company as well

  • Desire to build a strong player in the Grasse basin

  • Complementary acquisitions focused on expanding customer base and access to natural fragrance ingredients

  • Closing expected in Q2 2022

Symrise has submitted a binding offer to acquire 100% of R. Romani – Société Française d’Aromatiques (SFA Romani), a high-end perfume house. In addition, Symrise has submitted a binding offer to fully acquire Neroli Invest DL (Neroli Group). Both companies are based in the Grasse region of France. With these transactions, Symrise intends to strengthen its presence in fine perfumery in the south of France, strengthen its competitiveness in the creation of perfume compositions and expand its presence in key countries in Europe, Africa and the Middle East. The combined annual sales of SFA Romani and the Neroli Group amount to more than 40 million euros. Closing of the transactions is expected in the second quarter of 2022, subject to approval by the respective bodies and consultations with the works councils. The parties have agreed to keep the purchase price confidential.

“These two acquisitions represent another step in strengthening Symrise’s fine fragrance business and are fully in line with our strategic objective to accelerate our growth in this business area,” said Ricardo Omori, Global SVP Fine Fragrance. of Symrise AG. “With these transactions, we are increasing our access to high-quality natural ingredients, expanding our customer base and strengthening our competitiveness through greater agility as well as a significantly expanded fine fragrance team in the historic birthplace of perfumery in Europe. , the Pays de Grasse.”

The combination of these two recognized players with the Fine Fragrance division of Symrise offers unique opportunities for customers as well as employees of SFA Romani and the Neroli Group. Symrise intends to build a strong player in the Grasse basin with a new growth platform comprising creation centers, sales and marketing teams, as well as production capacities.

SFA Romani, founded in 1963 in Grasse, is internationally recognized for its choice of the most noble natural raw materials, its know-how in the creation of perfumes and the quality of its compositions. In nearly 60 years, the company has developed unparalleled know-how in high-end perfume compositions. The strong reputation of the company is based on an excellent knowledge of the markets and on the proximity with its customers. SFA Romani operates a mixed development and production site in Saint-Cézaire, Pays de Grasse. Symrise would acquire SFA Romani from its current owners, the Romani-Caruso family, Keensight Capital and Sofipaca.

“We are very proud of all that SFA Romani has accomplished in 60 years as an independent company. We embody unparalleled craftsmanship and quality in Grasse’s high-end fragrance compositions. We are convinced that the company and our brand will continue to thrive as part of the Symrise family,” said Viviane and Charles Romani-Caruso, Founders of SFA Romani. “Joining Symrise is a unique opportunity for SFA Romani to take our business to new heights. we complement each other very well and both companies will benefit from each other to achieve our common goal of creating the fine fragrances of tomorrow.

The Neroli Group is made up of the companies Créations & Parfums and Floressence, both founded in the mid-1980s in Saint-Cézaire in the Pays de Grasse. Floressence was acquired in 2017 and merged with Créations & Parfums in 2021. To build a strong position in natural fragrance ingredients, the Neroli Group has established long-term partnerships with local farmers for the sustainable cultivation of flowers in the region. Grasse region. Last November, Symrise had already announced a joint venture with Groupe Neroli. Now the company has decided to acquire all of the shares.

“We are very pleased with the offer to join such an important group as Symrise. Neroli’s customers and employees will be in very good hands, which will be most important to me”, said Christian Dussoullier, CEO of the group. Neroli.

About SFA Romani:
Founded in 1963 by perfumer Rodrigue Romani, SFA Romani is a family-run perfume house specializing in high-end perfumery products. The company maintains its own creative resources as well as production sites in the Grasse region. SFA Romani has always been recognized for its choice of the finest raw materials, the creativity of its perfumers and the quality of its compositions. An excellent knowledge of its markets and attentive listening to the needs of its customers have ensured its reputation.

About the Neroli Group:
The Neroli Group was born from the merger of the CREATIONS & PARFUMS and FLORESSENCE perfume houses. Created in the 1980s, in the Pays de Grasse – Saint-Cézaire-sur-Siagne, in the South of France, the two brands rely on the know-how of beautiful raw materials, the cultivation of natural ingredients to their transformation, offering their national and international customers high quality perfume compositions. Independent family-owned group, it brings together experts passionate about perfumery in the pure “Pays de Grasse” tradition, promoting its know-how throughout the world.

About Symrise:
Symrise is a global supplier of fragrances, flavors, food, nutritional and cosmetic ingredients. Its customers include manufacturers of perfumes, cosmetics, food and beverages, pharmaceuticals, and producers of nutritional supplements and pet food. Its revenue of €3.8 billion in fiscal year 2021 makes Symrise a leading global provider. Based in Holzminden, Germany, the group is represented by more than 100 locations in Europe, Africa, the Middle East, Asia, the United States and Latin America. Symrise works with its customers to develop new ideas and market-ready concepts for products that are an integral part of everyday life. Economic success and corporate responsibility are inextricably linked in this process. Symrise – always more inspiring…
www.symrise.com

Financial Calendar
April 27 – Group interim report January-March 2022
May 03 – annual general meeting

22.03.2022 Broadcast of a Corporate News, transmitted by the DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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