| US Fragrance Producers Sold to German Company |
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Major fragrance producer, Symrise, has just acquired two companies in the US. This move by Symrise has resulted in it being the largest provider of scents used in the air care industry in the USA. Symrise products are used in fragrances and other personal care products, air fresheners and scented candles. The Company has declined to reveal details of the arrangement, which saw it purchasing Intercontinental Fragrances, and Manheimer Fragrances. The deal with Manheimer Fragrances was signed on Thursday while the Intercontinental deal was reportedly completed three weeks ago. Symrise intends to create a worldwide air care centre in the US after the deals are finalized. Manheimer Fragrances had sales figures of $40 million in 2007, and Intercontinental Fragrances sales reached $16 million over the same period. The German based Symrise was founded in 2003, and is a major producer of fragrances and flavors. Currently the US air care market is said to be valued at roughly $300m. This takes in air fresheners and scented candles.
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