HOLZMINDEN, Germany — Symrise AG on Nov. 4 finalized its acquisition of American Dehydrated Foods/International Dehydrated Foods (ADF/IDF), a pursuit that began in February 2019. The merger is expected to combine ADF/IDF’s capabilities with Symrise’s Nutrition portfolio to diversify its all-natural ingredient solutions for the pet food and food markets.
On Oct. 30, the company announced that it had received antitrust clearance from the US Department of Justice for the acquisition. Symrise agreed to sell its Banks, Georgia ingredient manufacturing facility, which it opened in October 2018, to be granted antitrust clearance.
ADF/IDF is a meat and egg-based protein company based in Springfield, Missouri that offers all-natural ingredients. Integration of ADF/IDF into Symrise AG will begin immediately, according to Symrise.
"We very much look forward to teaming up with ADF/IDF given our shared focus on innovation and meeting customer needs. Together, we will work to continue expanding our diverse solutions portfolio using the highest quality natural ingredients,” said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG. “Our combined reach will allow us to expand our footprint in the marketplace, particularly in the US, and to widen our range of meat and egg-based protein products to our growing customer base.”
As of Jan. 31, 2019, the acquisition of ADF/IDF was valued at $900 million and will be financed through a combination of debt and equity, Symrise reported. ADF/IDF was estimated to generate $220 million in annual sales as of February 2019.
Symrise expects the business deal to be fully earnings-accretive one year from the acquisition.
Diana Pet Food, the pet nutrition division within Symrise AG, will benefit from the acquisition and expand its presence in the US, according to initial reports about the deal from Symrise. In September 2019, Diana Pet Food entered a joint venture with Kalsec, Inc. to produce antioxidant solutions for pet food applications.
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