Symrise works hard at appealing to your sense of taste and smell. The flavors and fragrance company commands about 10% of the world market, though it makes about half of its sales at home in Europe. Symrise is organized in two divisions: Flavors (beverages, snacks, ready-to-eat foods, and sweets) and Fragrances and Sensory Ingredients (perfumes, beauty products, home care products, multi-sensory aroma chemicals, and cosmetic raw materials). The company sells to manufacturers of fine fragrances, cosmetics, hair and body care products, detergents, food and beverages, and pharmaceuticals. Symrise was formed when Dragoco and Haarmann & Reimer, two German flavor and fragrance companies, merged in 2002.
In 2012 Symrise began focusing again on growth, both globally and in new market segments. It has acquired the Brazilian operations of fragrance maker Belmay, acquired Trilogy Fragrances USA to expand its natural perfumes oil business, and strengthened its consumer health operations through a partnership with Indevex Biotech.
Despite a global recession, Symrise came through 2009 in good financial shape. Its revenues finished the year up about 3% compared to 2008, while overall trade in the global marketplace was down some 12%. The company, however, was able to maintain its global market share. Symrise reported fairly strong net income in 2009, with only a small downtick (4%) due mainly to meeting its debt and pension obligations.
Symrise makes 50% of its sales in Europe. North America and Asia each account for another 20%. As part of its plan to expand internationally, Symrise has acquired the UK-based flavor maker Flavours Direct and seasonings company Steng Ltd. It also made its way to the US market with two acquisitions in 2008. Symrise spent about $100 million to buy Manheimer Fragrances and Intercontinental Fragrances, both of which sell to the air care market. Branching out into new territory, Symrise bought Futura Labs in early 2010. That company had extensive business in North Africa and Egypt.
Prior to its 2006 public offering, Swedish investment firm EQT owned 76% of Symrise; it now retains a 16% stake. – less