Symrise Expands Partnership with Kobo Products
German flavor and fragrance company Symrise has increased its stake in in US company Kobo Products, a pigment and powder specialist, to 49%. The transaction, said Symrise, creates further opportunities for both companies in the fields of mineral UV filters and decorative cosmetics. Kobo customers are also expected to benefit from expanded capacities and global supply chains.
This second investment and the related increase of the Symrise stake represent the logical next step in the companies’ partnership which began in 2021, the companies said. The expanded partnership with Kobo includes an agreement on the future disposition of shares of Kobo’s capital stock and the governance of Kobo. The funds raised in this transaction are to be used to expand capacity and enhance the supply chain to continue its growth trajectory and further optimize its business operations.
“Kobo Products is the perfect partner for our activities in the field of inorganic sunscreen filters and color solutions for decorative cosmetics,” said Jörn Andreas, Symrise’s executive board member responsible for Scent & Care. “With its innovative product range, Kobo perfectly complements our own portfolio. The corporate cultures of Kobo and Symrise also harmonize on all levels. For all these reasons, we feel very happy about this second investment and the expression of our confidence in Kobo that it makes.”
David Schlossman, president and majority owner of Kobo Products added: “Symrise has established itself as a reliable and trusted partner over the past two years. Their second investment is exactly the commitment we were seeking in a partnership of this kind. The Symrise teams have been extremely welcoming to us and engaged in the products. We have a lot of exciting work ahead that will surely create new opportunities for our customers and employees.”
