DGAP-News: Symrise AG
/ Key word(s): Investment
Symrise AG today announced that it has agreed to make a strategic investment in Swedencare, a fast-growing provider of premium pet health products. With this step Symrise underpins its leading position as a provider of innovative solutions and applications for pet food. The investment will be made as part of a capital increase of Swedencare and takes place in full consent with the company and its management team. In total Symrise will acquire 5.06 % of the share capital in Swedencare.
"We look forward to becoming a strategic shareholder in Swedencare and to support the fast-growing business. Swedencare is an impressive company that shares our passion for pet food solutions. In many markets the trend to pet ownership is increasing significantly and owners choose to provide their pets with products that best possibly support their health conditions," said Dr. Heinz Jürgen Bertram, CEO of Symrise AG. "Swedencare has built a highly profitable business with a diverse portfolio and international presence. Our companies share many similarities and run complementary activities. We see a lot of opportunities to jointly strengthen our competencies. Symrise therefore underlines its commitment with an investment in Swedencare."
Headquartered in Malmö and listed on the Nasdaq First North Growth Market in Stockholm, Swedencare offers premium products on the global and fast-growing market of healthcare products for cats, dogs and horses. The product portfolio includes an innovative all-natural dietary supplement for oral care which is patented in more than 30 countries as well as a broad range of grooming products for pets and dietary supplements in several other areas, such as joints and mobility. Swedencare sells its products across fifty markets globally, distributed via veterinarians and pet stores. In addition, the company runs an international online distributions network. Since going public in 2016, Swedencare has expanded its activities through both, organic growth and build on acquisitions. Swedencare's sales for the twelve months April 2020 - March 2021 were 336 million SEK (approx. €32 Mio.) with an EBITDA of 96 million SEK (approx. €9 Mio.), corresponding to an EBITDA-margin of 28,5%. Swedencare currently employs approx. 100 people across seven countries worldwide.
Symrise is a global leader in the pet food industry. The Group is capitalizing on its profound knowhow in sensorial and functional ingredients to improve palatability and develop solutions with positive effects on cardiovascular and cognitive health. With its multifaceted activities and profound knowhow in oral care Symrise sees a range of possibilities to jointly explore additional growth opportunities together with Swedencare.
Håkan Lagerberg, CEO of Swedencare, said: "We welcome Symrise as a new strategic investor and regard their engagement as a confirmation of our business and growth strategy. We are convinced that we can benefit from Symrise 's profound expertise in R&D and the pet food market."
Swedencare, a listed company on NASDAQ First North Growth Market, is specialized in pet healthcare and produces partly in own factories, markets and sells premium products on the global and fast-growing market. The company has a wide range of strong brands and products within most therapy areas, which includes, to mention some, Animal Pharmaceuticals(R), nutravet(R), NutriScience, PetMD(R), Stratford(R), VetWELL(R) as well as ProDen PlaqueOff(R) for oral health to dogs and cats. Swedencare's headquarter is situated in Malmö, Sweden with twelve subsidiaries located in seven countries.
About Symrise :
Symrise is a global supplier of fragrances, flavors, food, nutrition and cosmetic ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, pharmaceuticals and producers of nutritional supplements and pet food. Its sales of € 3.5 billion in the 2020 fiscal year make Symrise a leading global provider. Headquartered in Holzminden, Germany, the Group is represented by more than 100 locations in Europe, Africa, the Middle East, Asia, the United States and Latin America. Symrise works with its clients to develop new ideas and market-ready concepts for products that form an integral part of everyday life. Economic success and corporate responsibility are inextricably linked as part of this process. Symrise - always inspiring more .
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