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Latest Symrise Stock News | OTC:SYIEF | Benzinga

Symrise is a global supplier of ingredients for fragrances and flavourings across the food, beverage, household products, and pharmaceutical industries. With an estimated 12% market share, it is the world's fourth-largest supplier of fragrances and flavourings. The company was created after a 2003 merger of two companies that originated in 1874 and 1919. With 9,000 employees, Symrise produces 30,000 products sourced from 10,000 mostly natural raw materials such as vanilla, citrus, blossoms, and plant or animal materials for more than 6,000 customers.

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International Flavors Mulling Sale Of Lucas Meyer Cosmetics For $1B: Report

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Symrise Posts Higher Profit

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<ul> 
	<li>International Flavors &amp; Fragrances, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IFF#NYSE">IFF</a>) plans to sell its flavors, fragrances&nbsp;and cosmetic unit Lucas Meyer Cosmetics for about $1 billion.&nbsp;</li>
	 
	<li>The business could attract interest from rivals like U.K. specialty chemicals group&nbsp;Croda International Plc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/COIHF#OTC">COIHF</a>),&nbsp;Givaudan S.A.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/GVDBF#OTC">GVDBF</a>) of Switzerland, and Germany&#39;s&nbsp;Symrise Ag&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SYIEF#OTC">SYIEF</a>),&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-05-19/iff-weighs-sale-of-1-billion-lucas-meyer-cosmetics-unit?sref=TBDibEcD#xj4y7vzkg" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Bloomberg&nbsp;</a>reported, citing people familiar with the matter.</li>
	 
	<li>The report mentioned&nbsp;the company is working with an adviser to explore options for Lucas Meyer Cosmetics.</li>
	 
	<li>Lucas Meyer Cosmetics manufactures ingredients for the cosmetics and personal care industry.</li>
	 
	<li>In the recently-reported&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/05/b32273409/iff-reports-first-quarter-2023-results" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">first quarter of FY23</a>, CEO Frank Clyburn said, &quot;We remain steadfast in our focus to control what we can control as we solidify profitability, maximize cash flow and drive portfolio optimization to generate strong returns for our shareholders.&quot; In the quarter, the company&#39;s earnings came in line with the street view of $0.87 per share.&nbsp;</li>
	 
	<li>Price Action:&nbsp;IFF shares are trading higher by 0.24% to $84.36&nbsp;Friday at publication.&nbsp;&nbsp;</li>
</ul>

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Symrise AG (OTC: <a class="ticker" href="/stock/syief#OTC">SYIEF</a>) reported a rise in its net profit rose in the first nine months of the year.

Its sales surged 9.4% y/y to 1.32 billion euros ($1.7 billion), while net income rose 7% to EUR125.9 million.

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Latest Symrise Stock News | OTC:SYIEF | Benzinga

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