Symrise Invests in US Beauty Products Firm
German flavor and fragrance company Symrise has acquired a 25% share in Kobo Products, a powder and dispersion specialist headquartered in South Plainfield, New Jersey, USA. Symrise said the investment is a strategic step to expand into inorganic UV filters and decorative cosmetics.
Financial terms of the transaction were not disclosed.
“With this investment, we fast-track our strategic plan to expand into decorative cosmetics. It enables us to stay at the forefront of consumer trends by bridging color and skin care cosmetics”, said Jörn Andreas, president of Symrise’s cosmetic ingredients division.
He added: “We will combine Kobo’s broad range of market-leading product lines in surface treated pigments, sun care and color dispersions with our decades of experience in manufacturing and marketing high-quality cosmetic ingredients. Our customers will benefit from an unmatched range of UV filter products and a full spectrum of formulations and integrated solutions.”
Symrise and Brenntag added to Germany’s DAX
In separate news, the German Stock Exchange has decided to admit Symrise to Germany’s DAX Index. The listing, which will take place on Sept 20, follows the expansion of the Index of blue chip companies from 30 companies to 40. At the same time, the rules for a listing have been changed, making market capitalization the deciding factor.
“Promotion to the DAX demonstrates that Symrise is an attractive investment,” said CEO Heinz-Jürgen Bertram. The company has been listed in the Prime Standard segment of the Frankfurt Stock Exchange since 2006. Germany-based multinational distributor Brenntag also has been admitted to the DAX 40 after being listed in the MDAX index of medium-sized companies since 2010. During this time, the company noted that its market capitalization has quadrupled and today amounts to more than €13 billion.
Author: Elaine Burridge, Freelance Journalist
