Symrise: Acquisition of Diana Group

Symrise AG has submitted a binding offer and has entered into exclusive discussions with the owners of Diana Group with regards to the acquisition of Diana Group, one of the most attractive assets in the flavor and nutrition space.

With the planned transaction, Symrise will significantly expand its position in the Flavor & Nutrition market, strengthen its backward integration and expand its activities into the highly attractive Pet Food market. The investment amounts to EUR 1.3 billion, for which Symrise has already secured the required bridge financing.

The final financing structure will comprise of debt and equity. The acquisition is expected to be fully EPS accretive from 2015 onwards. In 2013, Diana had sales of ca. EUR 425 million and an EBITDA margin of ca. 21 %. The proposed trans-action is subject to consultation with the worker’s council and to antitrust clearance.