Symrise says it has reached a milestone towards the successful completion of the acquisition of ADF/IDF, a U.S. meat and egg-based protein and all-natural nutrition ingredients company.
Symrise has received antitrust clearance from the Antitrust Division of the U.S. Department of Justice in relation to the acquisition of ADF/IDF.
Symrise gets antitrust clearance on ADF/IDF acquisition
As a condition to this clearance, Symrise has committed to divest its manufacturing facility in Banks, Georgia.
To fulfil this condition, Symrise has signed an agreement regarding the sale of the Banks facility and related business. This will not impact the strategic rationale of the ADF/IDF acquisition, the company says. With its portfolio of all-natural ingredients for food and pet food markets, ADF/IDF will, according to Symrise, complement its Nutrition portfolio and contribute to a highly diversified range of natural ingredients based solutions. The closing of the ADF/IDF is expected within the coming weeks.
Symrise announced the acquisition of ADF/IDF which was valued at $900 million, on January 31, 2019.