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Symrise has completed its purchase of Manheimer Fragrances. The purchase, as previously reported, boosts Symrise's position in the U.S. fragrance market, particularly in air care, and specifically in candles. Manheimer's core-listed status with certain consumer goods companies will also be an asset.
In an official statement, Symrise outlined details of the deal:
"The anticipated combined consideration for the transactions, which is partially contingent on the attainment of certain milestones, will be c $100 million. In 2008, the acquisitions will add c $10 million to group sales . Group earnings will be enhanced in 2009. Integration will be completed in the first half of 2009."
Meanwhile, the company is moving forward with its U.S. air care center—which will encompass R&D, production and global marketing for its air fresheners.