Investments and Acquisitions
In the fiscal year, € 55.8 million
(2006: € 59.4 million) was invested globally in intangible assets and
property, plant, and equipment as well as acquisitions. Investments
focused on production.
As of March 1, 2007, Symrise acquired Steng Ltd., a British manufacturer of natural herb and spice pastes, stocks, pesto, and marinades that are supplied to the fast growing chilled food categories, as well as a range of traditional culinary sectors. Steng produces a range of “clean label” products that are created in their test kitchens and development labs on site. The clean label designation is the food industry’s term for products that are made of natural ingredients and do not, therefore, need to be identified separately on the label. Consumer demand for clean label foods continues to grow.
Symrise purchased the company’s remaining shares of Aromatics S.A.S. on July 31, 2007, a well-established French supplier of natural raw materials such as vanilla, cocoa, and coffee. This vertical integration will secure access to first-class natural raw materials and will further strengthen the vanilla core competencies. Success stories such as the large, new vanilla business in Europe and the USA affirm the importance of this acquisition.
Effective August 31, 2007, Symrise acquired Unilever’s Food Ingredients business in the UK. The product portfolio of this business consists mainly of flavorings for ready-to-eat meals (culinary applications). The sales revenue of this business, which was not a core business of Unilever UK, amounted to approximately € 5 million in 2006. As a result of this transaction, Symrise has acquired additional expertise and recipes that will further strengthen the business of our Savory business.