Symrise has signed a purchase agreement with the owners of natural nutrition ingredient provider ADF/IDF regarding the acquisition of their business. With the acquisition, Symrise aims to broaden its activities in the fast growing pet food business and to expand its position in the food nutrition market. The purchase price amounting to $900 million will be financed by debt and equity.

With its approximately 470 employees, ADF/IDF generated sales of $220 million and an EBITDA margin of 23%.

“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. 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,” said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG. “Through this acquisition, we will also broaden our global presence especially in the USA – a strategically important growth market for us – and strengthen our customer base.”

Headquartered in Springfield, MO, ADF/IDF (American Dehydrated Foods/International Dehydrated Foods) was founded in 1978 and specialises in sustainable meat and egg-based nutrition ingredients.

The combination of ADF/IDF and the Symrise Nutrition division Diana will, according to Symrise, create a leading global player in meat and egg-based protein specialties with focus on all natural and sustainable solutions.

William Darr, founder of ADF/IDF, said: “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. ADF/IDF and Symrise have many things in common. We are both committed to high-quality natural products derived from sustainable resources. And we both drive innovation to develop solutions that best serve our customers’ needs. Our company will benefit from Symrise’s scientific know-how to further improve our products. Also, Symrise’s wide global presence and broad customer base will allow ADF/IDF to expand its business faster.”