×
590
Fashion Jobs
GENESTORE INDIA PRIVATE LIMITED
Area Sales Manager/ Business Development Executive-Mumbai
Permanent · Mumbai
ANAND RATHI
Cluster Head/ Area Sales Manager
Permanent · Chennai
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
MAHALAKSHMI PROFILES PRIVATE LIMITED
Area Sales Manager
Permanent · Hyderabad
ARCHANGEL HR SOLUTIONS
Consultant Planning, Merchandising, Sourcing
Permanent · Chennai
KARADI PATH EDUCATION COMPANY PRIVATE LIMITED
Senior Area Sales Manager - Karadi Path Education Company
Permanent · Chennai
SENSO FOODS PRIVATE LIMITED
Area Sales Manager/sr. Sales Executive For "Corporate Sales"
Permanent · Ahmedabad
ALGOR SUPPLYCHAIN SOLUTIONS PRIVATE LIMITED
Hiring For Sales Manager in Logistic co| Hyderabad | Goa
Permanent · Bengaluru
A2V INSURANCE BROKERS PRIVATE LIMITED
Area Sales Manager
Permanent · Ludhiana
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Mumbai
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales -Namakkal
Permanent · Namakkal
ARKRAY HEALTHCARE PVT. LTD
Opening For Medical Business Manager(mr)- Delhi Chennai & Bangalore
Permanent · Chennai
PUMA
Studio Operations Manager
Permanent · Bengaluru
ELICO LIMITED
Requirement For Production Manager
Permanent · Hyderabad
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - up
Permanent · Faizabad
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - up
Permanent · Mahoba
ELECTRONICA FINANCE LTD
Area Sales Manager - Machinery Loan(Delhi ,Faridabad & Ghaziabad)
Permanent · Faridabad
IOTECHWORLD AVIGATION PVT LTD
Production Manager Engineer (Design & Development)
Permanent · Gurugram
CLASSIC SEARCH PVT LTD
Manager Production
Permanent · Bengaluru
CLASSIC SEARCH PVT LTD
Manager Production
Permanent · Bengaluru
SWASTIKA INVESTMART LTD
Opening For Branch Manager/Area Sales Manager
Permanent · Raipur
PARAISO REALTY PVT LTD
Sales Manager /Associate / Senior Associate - Real Estate Sales
Permanent · Lucknow
By
Reuters
Published
Sep 21, 2015
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Symrise buys scent ingredients maker Pinova for $397 million

By
Reuters
Published
Sep 21, 2015

Germany's Symrise is buying Pinova Holdings, a U.S. maker of perfume ingredients from natural sources, for at least $397 million from buyout firm TorQuest, part of a push into plant-based ingredients for its fragrances and flavors.

Symrise has a focus on plant-based substances, which are preferred by many consumer goods makers over petrochemical-based ingredients. The company expanded into ingredients businesses to have a better control over manufacturing practices.

Symrise


The deal reflects "the increasing importance of natural and renewable raw materials for the fragrance industry," Symrise Chief Executive Heinz-Juergen Bertram said on Monday.

Pinova was created in 2010 when TorQuest acquired Ashland's refined wood rosin and natural wood terpenes unit and combined it later with LyondellBasell's Flavors & Fragrances business, now called Renessenz.

The price tag amounts to as much as 11.1 times Pinova's 2014 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $37.4 million. That compares with a multiple of 17.3 that Symrise is trading at, 12.7 for rival IFF or 17.2 times for Switzerland's Givaudan , another competitor.

Subject to conditions to be met within 12 months, Canada's TorQuest will receive a premium of $20 million for a total price of up to $417 million.

The buyer's stock extended gains and was up 2.1 percent at 1158 GMT.

Symrise expects annual synergy effects worth 20 million euros ($22.6 million) from the deal by 2020.


 

© Thomson Reuters 2021 All rights reserved.