On Monday Nov. 23, Symrise AG's (SYIEY) fragrance business announced that it has entered into a definitive agreement to buy Sensient Technologies (NYSE: SXT).
Symrise will acquire Sensient’s aroma chemical and fragrance compound production facility and headquarters, located in Granada, Spain. The fragrances and aroma chemicals business unit was part of Sensient's Flavors & Extracts group. Symrise seeks to merge the research and development (R&D) capabilities, as well as the manufacturing capacities of Sensient's fragrance and aroma chemicals activities with its own.
Moving forward after the acquisition, Symrise will function with a “more focused portfolio of food and pharmaceutical colors, personal care, flavors, extracts and flavor ingredients." This portfo...