Symrise Nears Probi Takeover Bid
Symrise has acquired extra shares in the probiotic products manufacturer.
Symrise AG (Holzminden, Germany) has acquired extra shares in probiotic developer Probi AB (Lund, Sweden) and is now required to make a public offer for the company’s remaining shares.
A flavor and fragrance specialist, Symrise first took interest in Probi when the two companies entered a joint venture in December 2012, encompassing innovative projects relating to consumer categories such as oral health. Probi is responsible for developing a number of consumer product lines, including GoodBelly and ProViva probiotic beverages.
At the time, Symrise held 15% of Probi’s shares. It is now clear that Symrise has significantly stronger interest in probiotics.
“The globally recognized know-how of Symrise in sensory, active ingredients, and applications combined with Probi’s long-standing and proprietary expertise in patented probiotics will allow us to develop new consumer products with real health benefits and sensory profiles without compromises,” said Probi CEO Michael Oredsson.
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