Symrise AG
TypeAktiengesellschaft
FWB: SY1
FWB: SY1U (ADR)
OTC Pink Current: SYIEF
OTC Pink Current: SYIEY (ADR)
DAX component (SY1)
ISINDE000SYM9999
US87155N1090
IndustryChemicals
Founded2003 (2003)
HeadquartersHolzminden, Germany
Key people
Dr. Heinz-Jürgen Bertram (CEO and chairman of the executive board), Mr. Michael König (chairman of the supervisory board)
ProductsFlavors and fragrances
RevenueIncrease €4.62 billion (2022)[1]
Increase €618 million (2022)[1]
Decrease €280 million (2022)[1]
Total assetsIncrease €7.78 billion (2022)[1]
Total equityIncrease €3.61 billion (2022)[1]
Number of employees
12,043 (Dec 2022)[1]
Websitewww.symrise.com
Symrise headquarters in Holzminden, Germany

Symrise AG is a German chemicals company that is a major producer of flavours and fragrances with sales of €4.618 billion in 2022. Major competitors include Givaudan, Takasago International Corporation, International Flavors and Fragrances and Döhler. Symrise is a member of the European Flavour Association.[2] In 2021, Symrise was ranked 4th by FoodTalks' Global Top 50 Food Flavours and Fragrances Companies list.[3]

History

Symrise was founded in 2003 by the merger of Bayer subsidiary Haarmann & Reimer (H&R)[4] and Dragoco, both based in Holzminden, Germany.

Haarman & Reimer

Haarman & Reimer (H&R) was founded in 1874 by chemists Ferdinand Tiemann and Wilhelm Haarmann after they succeeded in first synthesizing vanillin from coniferin. Holzminden was the site where vanillin was first produced industrially.[5]

In 1917, H&R supported Leopold Ružička's unsuccessful three-year project to synthesize irone, a fragrance of violets.[6]

In 1953, H&R was acquired by Bayer.

Dragoco

Dragoco was founded in 1919 by Carl-Wilhelm Gerberding and his cousin August Bellmer.

Horst-Otto Gerberding, majority holder and Chairman of the Executive Board at Dragoco, placed all of his shares into the new Syrmise corporation and the merger was completed May 23, 2003.

History since 2003

In April 2005, Symrise acquired Flavours Direct, a UK-based manufacturer of compounded flavours and seasonings.

In January 2006, Symrise acquired Hamburg based Kaden Biochemicals GmbH, a producer of specialty botanical extracts.

In November 2006, Symrise announced plans to sell shares worth €650 million in an IPO.[7] The firm also announced that its main shareholders, including EQT, would also sell shares worth an unspecified amount. The IPO would leave well above 50% of Symrise shares in free-float. Deutsche Bank and UBS conducted the listing on December 11, 2006. Symrise was listed on the Frankfurt Stock Exchange with the trading symbol SY1. With 81,030,358 shares issued at an issue price of €17.25 for a total volume of €1.4 billion, it was the largest German public offering of 2006.[8]

On 19 March 2007, Symrise was added to the German MDAX stock index.[9]

In March 2013, Symrise acquired US-owned fragrance manufacturer Belmay Fragrances for an undisclosed sum.

On 12 April 2014, Symrise had announced the acquisition of Diana Group one of the leading manufacturers of natural flavours and the global number 1 for pet food solutions.[10] The transaction was closed on July 29, 2014, and valued at around EUR 1.3 billion of equity and debt.

In November 2020, Symrise announced its purchase agreement with Sensient Technologies Corporation, to acquire its fragrance and aroma business.[11]

Key figures

One of the flavor production building

World market share of the relevant fragrance and flavor market (2015)

Source:[12]

References

  1. 1 2 3 4 5 6 "Financial Report 2021" (PDF). Symrise. Retrieved 1 April 2022.
  2. ↑ "About EFFA". EFFA. Retrieved 3 March 2018.
  3. ↑ Fu, Rice (2021-04-06). "2021年全球食用香精香料50强" [Global Top 50 Food Flavours and Fragrances Companies]. FoodTalks (in Chinese). Retrieved 2022-02-11.
  4. ↑ Neuer Duftstoffgigant heißt Symrise. Fusion von Ex-Bayer-Tochter Haarmann & Reimer und Dragoco kommt gut voran. In: Börsen-Zeitung, 22. Februar 2003.
  5. ↑ "Datei:Tiemann, Haarmann-Ueber das Coniferin.pdf" (PDF).
  6. ↑ Prelog, Vladimir; Jeger, Oskar (1980). "Leopold Ruzicka (13 September 1887 – 26 September 1976)". Biogr. Mem. Fellows R. Soc. 26: 411–501. doi:10.1098/rsbm.1980.0013.
  7. ↑ IPO news from Wall Street journal (in German)
  8. ↑ Symrise IPO press release
  9. ↑ MDAX listing announcement
  10. ↑ "Symrise plant Milliardenübernahme".
  11. ↑ avr (2021-08-05). "MDAX | Symrise erzielt kräftiges Umsatz- und Ergebniswachstum". Nebenwerte Magazin (in German). Retrieved 2023-02-27.
  12. ↑ Flavor & Fragrance Industry Leaders
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