Symrise Buys Food Ingredients Firm ADF/IDF for $900M
Food and cosmetic ingredients firm Symrise AG signed an agreement to purchase Springfield, MO-based American Dehydrated Foods/International Dehydrated Foods (ADF/IDF), a maker of meat and egg-based ingredients for pet food and food products, for $900 million, a company press release announced Thursday.
“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,” said Dr. Heinz-Jürgen Bertram, chief executive officer of Symrise, in a statement.
Symrise said ADF/IDF’s position as a pet food ingredients industry leader made the acquisition more attractive and offers the company an opportunity to grow its pet food-related business in the U.S. The Missouri manufacturer produces health, functional and nutritional pet food ingredients.
“With our expertise in pet food palatability and competence in nutrition solutions, we will create an integrated partner for our pet food clients,” said Bertram. “Through this acquisition, we will also broaden our global presence, particularly in the U.S.A. – a strategically important growth market for us – and strengthen our customer base.”
Customary closing conditions must be fulfilled before the deal reaches a conclusion.