Symrise AG today announced that it has successfully completed the acquisition of ADF/IDF, a leading U.S. meat and egg-based protein specialist and pioneer in all-natural nutrition ingredients. The acquisition has been cleared by the Antitrust Division of the U.S. Department of Justice (DOJ).
Symrise will now begin the process of integrating ADF/IDF. With its comprehensive portfolio of solutions for the food and pet food industries, ADF/IDF will complement the Nutrition portfolio with a highly diversified range of natural based solutions.
"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. Our combined reach will allow us to expand our footprint in the marketplace, particularly in the U.S., and to widen our range of meat and egg-based protein products to our growing customer base” said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG.
The integration process will begin immediately and will follow a defined roadmap overseen by cross-divisional teams. Symrise expects the transaction to be fully earnings accretive in the first year after closing.
Symrise announced the acquisition of ADF/IDF which was valued at USD 900 million, on January 31, 2019. The transaction has been financed through a combination of debt and equity.