Futura Labs Group acquired

Symrise has signed an agreement about the acquisition of the Futura Labs Group, a leading flavors and fragrances manufacturer in Egypt and the United Arab Emirates. With this acquisition, Symrise expands its footprint in several large and attractive markets in this region and creates the new market leader in Egypt. The product portfolio and client list of Futura Labs have an excellent fit with the existing operations of Symrise in Egypt.

The acquisition is a significant step in expanding the presence of Symrise in Egypt, a fast-growing market with a population of 80 million, and in the dynamic Gulf region. Futura Labs is a privately held group headquartered in Cairo and the leading local manufacturer of flavors, emulsions and beverage compounds, extracts, seasonings and fragrances. It owns development and production facilities in Cairo and a recently established production facility in Dubai. The personnel have an indepth knowledge about the local taste preferences and con-sumer’s demands. The group has an excellent track record in sales growth and profitability and increased its revenues to USD 15.1 million in 2008.