Symrise has gained immediate access to Flavor Infusion’s customer base, product knowledge and product portfolio, chief executive officer Dr Heinz-Jürgen Bertram said.
By acquiring the firm, Symrise would be able to more easily access the growing speciality beverage sector, such as flavoured waters, he added.
‘Market is booming’
“The market for flavoured waters, teas, sports and energy drinks is booming, especially in North America,” Bertram said.
“Our latest acquisition is thus another strategic step to capitalise on the increasing consumer awareness for health and wellbeing, in particular the growing demand for infused water and non-alcoholic beverages.”
Symrise’s acquisition is the latest in a string of deals struck by big European ingredients firms. Frutarom chief executive for health, Holger Riemensperger, told Food Ingredients, Health & Nutrition earlier this year that Frutarom would acquire up to 10 new businesses a year in a bid to grow turnover to $1bn by 2018.
Acquisitions to rise
In the coming years, acquisitions by European ingredients firms were expected to continue to rise, according to Catalyst Corporate finance director Simon Peacock.
Global ingredients firms with enterprise values exceeding $1bn such as Symrise, CSM and Frutarom would target companies with enterprise values lower than $150M to access niche sectors of the ingredients market as well as new customers, knowledge and products, he added.