Symrise To Buy Sensient's Fragrances Business Unit

(RTTNews) - Sensient Technologies Corp (SXT) announced that it has agreed to sell its fragrance and aroma chemicals business to Symrise AG (SYIEY.PK, SYIEF.PK). The company expects the transaction to be finalized in the first half of 2021.

With the acquisition, Symrise said it will strengthen its backward integration and broaden its leadership position as a supplier of fragrance ingredients which are increasingly demanded for use, especially in personal and home care products.

Symrise also plans further expansion of customer base and presence, particularly in EAME and Latin America.

Going forward, Symrise plans to strengthen its manufacturing footprint in Spain with targeted investments in the manufacturing site in Granada that will be acquired.

Upon completion of the sale of the fragrances business, Sensient will operate with a more focused portfolio of food and pharmaceutical colors, personal care, flavors, extracts and flavor ingredients, and natural ingredients for the food, pharmaceutical, and personal care markets.