CHINA — German food ingredients supplier Symrise AG has acquired Chinese pet food producer Wing Pet Food in an effort to diversify its portfolio in the category.
Shanghai-based Wing Pet Food manufactures and supplies pet food companies with palatability, nutrition and protection solutions.
The company’s presence extends from the Chinese market to incorporate other adjacent Asian markets, presenting an opportunity for Symrise to also expand its own presence in the Asia/Pacific (APAC) region.
“The acquisition of Wing Pet Food is an excellent opportunity for Symrise to further strengthen its leading position in pet food and expand its footprint in the APAC region, where we see great growth potential,” said Jean-Yves Parisot, Ph.D., president of flavor and nutrition, Symrise.
“With this transaction we extend our access to additional customers and further diversify our portfolio in the pet food application area. Our customers will particularly benefit from an enhanced value proposition in taste, nutrition and health.”
As part of the acquisition, Symrise plans to expand its own capabilities using Wing Pet Food’s R&D center.
Symrise will also integrate Wing Pet Food’s two production sites located in Jiangxi and Jiangsu, China, and 200 employees into its operations.
“This is a milestone for Wing Pet Food and I am very confident about partnering with Symrise,” said Wu Zhirong, deputy general manager for operations, industrial development and procurement, Wing Pet Food.
“Combining our portfolios, our capabilities, and strong customer relationships will further strengthen our competitive position. We will be ideally positioned to make the best use of our growth opportunities in and outside China.”
Earlier, Symrise announced a three-year research and development (R&D) partnership with Antofénol to develop natural agro-extracts.
According to Symrise, the agro-extract will be obtained by sustainable eco-extraction using microwave, ultrasound and vacuum technologies.
The R&D will primarily focus on cosmetic ingredients, scents and the extraction of compounds from the Holzminden group’s flavor and nutrition division.
The partnership will leverage Antofénol’s expertise in microwave, ultrasound, and vacuum extraction techniques with Symrise’s expertise in research and product development and knowledge of the market and consumer demands.
Marielle Le Maire, senior vice president, global head of BU actives and botanicals, cosmetic ingredients division, Symrise, said, “We feel delighted that we could form a partnership with Antofénol—a technology leader in innovative eco-extractions.
We expect this to provide us with new sustainable and innovative cosmetic ingredients and plant-based unique developments for our Scent & Care segment.”
Earlier, the flavor and fragrance giant saw its business boosted by the global economic recovery in 2021 and has reported significantly increased sales and earnings in its annual overview.
The group’s EBITDA rose to €814 million (US$902 million) in spite of the increased raw materials costs and costs of strategic growth initiatives amounting to €174 million (US$193 million).
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE
