HOLZMINDEN, Germany — Symrise will acquire American Dehydrated Foods/International Dehydrated Foods (ADF/IDF), a natural ingredient supplier to the pet food market, for $900 million. Symrise aims to strengthen its pet food activities, operated through its Diana Pet Food subsidiary, and expand its presence in the US with the acquisition.
“The strategic acquisition of ADF/IDF perfectly delivers on our strategy to expand in fast growing, high-margin business areas. The complementary offering will further diversify our Diana portfolio in pet food and nutrition,” said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG. “The acquisition of the leading provider of natural pet food nutrition ingredients is a further breakthrough for Symrise into the pet food nutrition market. With our expertise in pet food palatability and competence in nutrition solutions, we will create an integrated partner for our pet food clients.”
Springfield, Missouri-based ADF/IDF specializes in meat- and egg-based protein, generates $220 million in sales annually and employs 470 employees. The deal is expected to be fully EPS accretive from the first year after closing, according to Symrise. With this acquisition, the two companies hope to build a mutually beneficial partnership, expand market reach and share research and development capabilities.
“We are delighted to have found in Symrise a new strong owner for our company; they share the same values and the same mindset on the further development of the business. In the starting phase of our company, we already worked very closely with Diana, which is today leading Symrise’s nutrition activities,” added William Darr, founder of ADF/IDF.
The Diana Pet Food branch of Symrise works in 14 countries to supply pet food palatability products and functional ingredients. This branch has five subsidiaries segmented for palatability, pet health and nutrition, pet food protection, scent and care, and measurement.
ADF/IDF has become a leading natural ingredient provider to the pet food market since its founding in 1978. The company offers clean label product solutions, taste and nutrition solutions as well as functional ingredients.
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