German Symrise AG announced it has acquired the global fragrance business of the Belmay Group (American), an international developer and manufacturer of fragrances and perfume oils. The companies have agreed to keep the purchase price confidential.
The Belmay Group, headquartered in Yonkers, New York, is a developer and manufacturer of fragrance creations, particularly in the segments fine fragrances, cosmetics and air care. Belmay generated fragrance sales of around US$60 million in fiscal 2012. At the beginning of 2012, Symrise took over Belmay's Brazilian fragrance business.Germany based flavors and fragrance manufacturer has acquired US fragrance business Belmay as part of plans to extend its business footprints into the North American market.
The company confirmed that it has bought the global operations of the business which are focused on the development and manufacturing of fragrances and perfume oils. Belmay's operations are focused on the fine fragrance, personal care and air care segments. The motivation behind the acquisition is that fact the business portfolio will complement and strengthen its existing portfolio Belmay's main customer base is in North America--where the German company is hoping to capitalize on expanding there. the 70 year company now has German owners in Symrise
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