Symrise
Encyclopedia
Symrise is a major producer of flavor
s and fragrances with sales of € 1,572 million in 2010. Major competitors include Firmenich
, Givaudan
, International Flavors and Fragrances
and Takasago International
.
(Germany
). In 2002 private equity
firm EQT Northern Private Equity and Bayer
reached an agreement on the acquisition of Haarmann & Reimer while acquiring the shares of minority holders of DRAGOCO. Horst-Otto Gerberding, majority holder and Chairman of the Executive Board at DRAGOCO, placed all of his shares into the new corporation and the merger was completed May 23, 2003.
Dragoco was founded in 1919 by Carl-Wilhelm Gerberding and his cousin August Bellmer. Haarman & Reimer was founded in 1874 by Holzminden
chemists Ferdinand Tiemann
and Wilhelm Haarmann
after they succeeded in first synthesizing vanillin
from coniferin
. Holzminden was the site where vanillin
was first produced industrially. In 1953, H&R was acquired by Bayer
.
In April 2005 Symrise acquired Flavours Direct, a UK based manufacturer of compounded flavours and seasonings.
In January 2006 Symrise acquired Hamburg
based Kaden Biochemicals GmbH, a producer of specialty botanical extracts.
In November 2006, Symrise announced plans to sell shares worth €650 million in an IPO
. The firm also announced that its main shareholders, including EQT, would also sell shares worth an unspecified amount. The IPO would leave well above 50% of Symrise shares in free-float. Deutsche Bank
and UBS
conducted the listing on December 11, 2006. Symrise was listed on the Frankfurt Stock Exchange
with the trading symbol
SY1. With 81,030,358 shares issued at an issue price of €17.25 for a total volume of €1.4 billion, it was the largest German public offering of 2006.
On 19 March 2007, Symrise was added to the MDAX
stock index.
Flavor
Flavor or flavour is the sensory impression of a food or other substance, and is determined mainly by the chemical senses of taste and smell. The "trigeminal senses", which detect chemical irritants in the mouth and throat as well as temperature and texture, are also very important to the overall...
s and fragrances with sales of € 1,572 million in 2010. Major competitors include Firmenich
Firmenich
Firmenich SA is a private Swiss company in the perfume and flavor business, it is the largest privately-owned company in the perfume and flavor business, and ranks number two worldwide., Firmenich has created many of the world’s favorite perfumes for over 100 years and produced a number of the most...
, Givaudan
Givaudan
Givaudan is a Swiss manufacturer of flavorings and fragrances. As of 2008, it is the world's largest company in the industry.-Background:The company's scents and flavors are developed most often for food and beverage makers, but they are also used frequently in household goods, as well as grooming...
, International Flavors and Fragrances
International Flavors and Fragrances
International Flavors & Fragrances is a major producer of flavors and fragrances with sales of $2.6 billion in .Major competitors include Firmenich, Givaudan, and Symrise. IFF is a member of the S&P 500.-History:...
and Takasago International
Takasago International Corporation
is a major international producer of flavors and fragrances headquartered in Japan, with presence in 22 countries worldwide and net sales of $900 million in . Major competitors include Firmenich, International Flavors and Fragrances, Givaudan and Symrise.-History:...
.
History
Symrise was founded in 2003 by the merger of Haarmann & Reimer (H&R) and Dragoco, both based in HolzmindenHolzminden
Holzminden is a town in southern Lower Saxony, Germany. It is the capital of the district of Holzminden. It is located directly on the river Weser, which here is the border to North Rhine-Westphalia.-History:...
(Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
). In 2002 private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
firm EQT Northern Private Equity and Bayer
Bayer
Bayer AG is a chemical and pharmaceutical company founded in Barmen , Germany in 1863. It is headquartered in Leverkusen, North Rhine-Westphalia, Germany and well known for its original brand of aspirin.-History:...
reached an agreement on the acquisition of Haarmann & Reimer while acquiring the shares of minority holders of DRAGOCO. Horst-Otto Gerberding, majority holder and Chairman of the Executive Board at DRAGOCO, placed all of his shares into the new corporation and the merger was completed May 23, 2003.
Dragoco was founded in 1919 by Carl-Wilhelm Gerberding and his cousin August Bellmer. Haarman & Reimer was founded in 1874 by Holzminden
Holzminden
Holzminden is a town in southern Lower Saxony, Germany. It is the capital of the district of Holzminden. It is located directly on the river Weser, which here is the border to North Rhine-Westphalia.-History:...
chemists Ferdinand Tiemann
Ferdinand Tiemann
Johann Karl Wilhelm Ferdinand Tiemann was a German chemist and together with Reimer discoverer of the Reimer-Tiemann reaction.Beginning in 1866, Tiemann studied pharmacy at the TU Braunschweig where he graduated in 1869...
and Wilhelm Haarmann
Wilhelm Haarmann
Gustav Ludwig Friedrich Wilhelm Haarmann was a German chemist and together with Karl Ludwig Reimer and Ferdinand Tiemann founded the Haarmann & Reimer chemical plant for the production of vanillin....
after they succeeded in first synthesizing vanillin
Vanillin
Vanillin is a phenolic aldehyde, an organic compound with the molecular formula C8H8O3. Its functional groups include aldehyde, ether, and phenol. It is the primary component of the extract of the vanilla bean. It is also found in Leptotes bicolor, roasted coffee and the Chinese red pine...
from coniferin
Coniferin
Coniferin is a glucoside of coniferyl alcohol. This white crystalline solid is a metabolite in conifers, serving as an intermediate in cell wall lignification, as well as having other biological roles....
. Holzminden was the site where vanillin
Vanillin
Vanillin is a phenolic aldehyde, an organic compound with the molecular formula C8H8O3. Its functional groups include aldehyde, ether, and phenol. It is the primary component of the extract of the vanilla bean. It is also found in Leptotes bicolor, roasted coffee and the Chinese red pine...
was first produced industrially. In 1953, H&R was acquired by Bayer
Bayer
Bayer AG is a chemical and pharmaceutical company founded in Barmen , Germany in 1863. It is headquartered in Leverkusen, North Rhine-Westphalia, Germany and well known for its original brand of aspirin.-History:...
.
In April 2005 Symrise acquired Flavours Direct, a UK based manufacturer of compounded flavours and seasonings.
In January 2006 Symrise acquired Hamburg
Hamburg
-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
based Kaden Biochemicals GmbH, a producer of specialty botanical extracts.
In November 2006, Symrise announced plans to sell shares worth €650 million in an IPO
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
. The firm also announced that its main shareholders, including EQT, would also sell shares worth an unspecified amount. The IPO would leave well above 50% of Symrise shares in free-float. Deutsche Bank
Deutsche Bank
Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...
and UBS
UBS AG
UBS AG is a Swiss global financial services company headquartered in Basel and Zürich, Switzerland, which provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide, as well as retail clients in Switzerland...
conducted the listing on December 11, 2006. Symrise was listed on the Frankfurt Stock Exchange
Frankfurt Stock Exchange
The Frankfurt Stock Exchange is the world's 12th largest stock exchange by market capitalization. Located in Frankfurt am Main, Germany, the Frankfurt Stock Exchange is owned and operated by Deutsche Börse, which also owns the European futures exchange Eurex and the clearing company...
with the trading symbol
Ticker symbol
A stock symbol or ticker symbol is a short abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. A stock symbol may consist of letters, numbers or a combination of both. "Ticker symbol" refers to the symbols that were printed on the ticker...
SY1. With 81,030,358 shares issued at an issue price of €17.25 for a total volume of €1.4 billion, it was the largest German public offering of 2006.
On 19 March 2007, Symrise was added to the MDAX
MDAX
The MDAX is a stock index which lists German companies. The index is calculated by Deutsche Börse.It includes the 50 Prime Standard shares from sectors excluding technology that rank immediately below the companies included in the DAX index...
stock index.