Symrise Acquires Citratus Fragrancias; Expands Presence in Brazil

Symrise has signed a purchase agreement with Citratus to acquire all shares of Citratus Fragrancias, a producer of fragrances located in Vinhedo, Sao 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.

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.

The closing of the transaction is expected to take place in January 2018.

“Brazil is a growth engine in Latin America. We have been growing above average there for years, particularly due to fragrance applications. The acquisition of Citratus is thus a logical step. It fully supports our strategy of increasing our presence and position in emerging markets. Through the acquisition, Symrise will become the market leader for small and medium-sized customers. We will benefit from even better access to new customer groups, additional production capacities and further raw material supply,” said Achim Daub, global president scent & care within Symrise Group.