Symrise to acquire Citratus in Brazil

Symrise Aromas e Fragrâncias has agreed to acquire Citratus as part of plans to expand its market position in Brazil and Latin America.

The acquisition is expected to close in January 2018.

Symrise Group Scent & Care global president Achim Daub said: “Brazil is a growth engine in Latin America. We have been growing above average there for years, particularly due to fragrance applications.

“The acquisition of Citratus is thus a logical step. It fully supports our strategy of increasing our presence and position in emerging markets. Through the acquisition Symrise will become the market leader for small and medium-sized customers. We will benefit from even better access to new customer groups, additional production capacities and further raw material supply.”

According to Symrise, Citratus can also make use of its existing production capacities to support growth in the future.

Symrise has its own production and creation facilities in the greater São Paulo state of Brazil and in the Amazon region through its facility in Belém, Pará.

With 26 years of experience serving the Brazilian market for small and medium-sized fragrance customers, Citratus currently operates a development and production facility in the city of Vinhedo and maintains sales representations throughout Brazil.

Citratus has established business relations in the local fragrance market and reported sales of $12m in 2016 and 86 employees.