Symrise has acquired California-based Flavor Infusion for an undisclosed amount, extending its product offering for natural beverage applications.
A manufacturer of bases, formulas and marketed applications for beverages, Flavor Infusion generated turnover of about $10m last year. Its acquisition will enhance Symrise’s position in the growing market for flavoured waters and non-alcoholic drinks. The German firm will integrate Flavor Infusion’s activities into its US Flavor & Nutrition business upon completion, which is expected to take place during the third quarter of this year.
Flavor Infusion has been buoyed by consistent growth in the US’ beverage market, with estimated year-on-year growth of between 5% and 7% in recent times.
Symrise CEO Dr Heinz-Jürgen Bertram said: “The market for flavoured waters, teas, sports and energy drinks is booming, especially in North America. Our latest acquisition is thus another strategic step to capitalise on the increasing consumer awareness for health and wellbeing, in particular the growing demand for infused water and non-alcoholic beverages. Flavor Infusion is an expert in this segment with a wide product portfolio, an impressive customer base and solid financials. The acquisition meets all criteria of our M&A strategy and will provide immediate value to Symrise. Our customers will benefit from a highly diversified offering of functional and hydration-based drinks as well as numerous applications.”
© FoodBev Media Ltd 2021
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