HOLZMINDEN (dpa-AFX) - Symrise AG (SYIEY.PK, SYIEF.PK) announced the acquisition of 25% minority interest in Kobo Products, Inc. Headquartered in South Plainfield, Kobo is a pigment & powder specialist, providing technology-based raw materials to the cosmetic industry. Symrise has also agreed with Kobo on the future disposition of shares of Kobo's capital stock and the governance of Kobo.
'With this investment, we fast-track our strategic plan to expand into decorative cosmetics.' said Jörn Andreas, President of Cosmetic Ingredients Division at Symrise AG.
Kobo has group companies in the USA, France, Brazil, and the UK, and a majority owned joint-venture in Japan.
Symrise said it sees a wide range of possibilities to jointly explore additional growth opportunities. The companies will cooperate in the distribution of UV filters.
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