Symrise to buy part of Chr. Hansen's Flavor Division
March 05, 2008
by Jeff Gelski
HORSHOLM, DENMARK — Chr. Hansen and Symrise have signed an agreement in which Symrise will acquire part of Chr. Hansen’s Flavor Division. Under the agreement, Horsholm-based Chr. Hansen will divest seasonings (spice blends), savory, sweet and dairy flavor businesses, which primarily are in North America.
"The divestment of these business areas is an important step in the last couple of year’s strategic change of focus for Chr. Hansen," said Lars Frederiksen, chief executive officer of Chr. Hansen. "It is a move toward a stronger biotechnical profile with a focus on more complex, innovative and value-adding solutions based on our strong knowledge and position within the fields of lactic acid bacteria, enzymes and natural colors."
The sale price was not disclosed. The closing of the sale awaits approval from the anti-trust authorities. Symrise has the capabilities to grow the flavor businesses, according to Chr. Hansen. The divested flavor businesses had annual sales of about €50 million ($76.4 million).