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.
April 12/Holzminden/Press Release -- 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. With the planned transaction, Symrise will significantly expand its position in the flavor and nutrition market, strengthen its backward integration and expand its activities into the pet food market. The investment amounts to 1.3 billion euros, 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 onward. In 2013, Diana had sales of 425 million euros and an EBITDA margin of ca. 21 %. The proposed transaction is subject to consultation with the worker’s council and to antitrust clearance.
As the partner of choice for its clients in the Food, Pet Food, Nutraceuticals, Aquaculture and Cosmetics industries, Diana has become one of the leading suppliers of organoleptic solutions based on natural ingredients. Diana is a leader in natural and functional food solutions and palatability enhancers for pet food and works alongside its clients to increase the sensorial and nutritional performance of their products. Diana is headquartered in Vannes, France, and operates own production facilities and sales offices in 23 countries in Europe, North and Latin America as well as Asia.