Symrise Raises Stake in Kobo Products Inc.
PARIS — Swiss fragrance and flavors supplier Symrise AG has raised its stake in Kobo Products Inc., a U.S.-based pigment and powder specialist for the beauty industry, to 49 percent.
Financial terms of the deal were not disclosed, but in a statement Symrise said the funds raised are expected to expand capacity and enhance Kobo’s supply chain.
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“The transaction creates further opportunities for both companies in the fields of mineral UV filters and decorative cosmetics,” Symrise said. “Kobo customers will also benefit from expanded capacities and global supply chains. With this step, both partners have expressed their strong commitment to this partnership and the added value it will create for customers and consumers.”
The fragrance and flavors suppliers keep expanding their reach through acquisitions in the realms of well-being, cosmetics and naturality.
Symrise initially took a 25 percent stake in Kobo in 2021, in a bid to step up its growth in cosmetics ingredients. At the time, Symrise said it had agreed with Kobo on the future disposition of shares in the group’s capital and governance. Symrise also became a distribution partner with Kobo for inorganic UV filters. As part of the new deal, there has been another agreement signed concerning Kobo’s shares and governance.
“With its innovative product range, Kobo perfectly complements our own portfolio,” said Jörn Andreas, the executive board member responsible for scent and care at Symrise. “The corporate cultures of Kobo and Symrise also harmonize on all levels. For all these reasons, we feel very happy about this second investment and the expression of our confidence in Kobo that it makes.”
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