Symrise’s Acquisition of Citratus
Symrise Aromas e Fragrâncias Ltda and the current owners of Citratus have signed a purchase agreement with respect to all shares of Citratus Fragrâncias, a producer of fragrances located in Vinhedo, close to São Paulo.
Citratus is looking back to 26 years of very successfully serving the Brazilian market for small and medium-sized fragrance customers. It is running a modern development and production facility in the city of Vinhedo, only 45 minutes away from São Paulo. In addition it maintains sales representations throughout Brazil. Over the last decades Citratus has built well established business relations to fast growing, local customers in the fragrance industry as well as to important suppliers of natural fragrance raw materials. The Company can leverage existing production capacities to maintain its organic growth in the future. Citratus generated sales of about 12 million US dollars in 2016 and employs 86 people.
Symrise has been present in Latin America for more than five decades. The Group is serving its customers in Brazil through own production and creation facilities in greater São Paulo as well as in the Amazon region through its facility in Belém, Pará.
Both parties have agreed not to disclose financial details of the acquisition. Closing of the transaction is expected to take place in January 2018.
Symrise is a global supplier of fragrances, flavorings, cosmetic base materials and substances as well as functional ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, the pharmaceutical industry and producers of nutritional supplements and pet food.
With sales of more than € 2.9 billion in 2016, Symrise is among the global leaders in the market for flavors and fragrances. Headquartered in Holzminden, Germany, the Group is represented with more than 90 sites in Europe, Africa and the Middle East, Asia, the United States and Latin America.
Motta Fernandes advised Symrise Aromas e Fragrâncias Ltda. with Roberto Liesegang (Picture), Pedro Schiesser Bernardini and Carolina Mafra Mendeleh.
Felsberg Advogados advised Citratus Fragrâncias Indústria e Comércio Ltda. with Evy Marques and Marcela Pongitor Rosolen.