Symrise AG has entered into exclusive discussions to acquire Diana Group, a manufacturer of natural functional ingredients for the food, pet food, nutraceuticals, aquaculture, and cosmetics industries, for €1.3 billion. With the planned transaction, Symrise will expand its position in the flavor and nutrition market, strengthen its backward integration, and expand its activities into the pet food market.
Diana is headquartered in Vannes, France, and operates its own production facilities and sales offices in 23 countries in Europe, North and Latin America, as well as Asia. With more than 2,000 employees, the company generated sales of approximately €425 million and an EBITDA margin of 21 % in 2013.
“The proposed acquisition represents a major milestone for Symrise right after our 10th anniversary, and is fully in line with our strategic objective to further accelerate profitable growth,” said Heinz Jürgen Bertram, CEO of Symrise AG. “Diana Group is an impressive and highly profitable business with a strong complementary fit to our activities in the Flavor & Nutrition market. With Diana we will be able to significantly diversify our portfolio for natural ingredients, tap into new business segments, strengthen our raw material supply, and meet the requests for traceability from our customers.”