Symrise confirms acquisition of UK's largest supplier of juices
Symrise AG has strengthened its position in the British market segment for beverages with the acquisition of Cobell, the number one supplier of juices.
Cobell, which was established in 1999, is the largest supplier of processed fruit and vegetable juices in Great Britain and a leading supplier across Europe. Both parties have agreed not to disclose financial values.
Dirk Bennwitz, President Flavor Segment EMEA said: "Know how meets innovation – this is the guiding principle of our acquisition of Cobell. The Group is firmly anchored in the British market and operates with extremely high customer orientation. It thus represents an ideal match for Symrise. In recent years we have seen increased demand for innovative beverage solutions. Together with Cobell we prepare the ground for accelerated growth and expand our footprint. By combining Cobell’s impressive application and manufacturing capacities with our strong portfolio of natural flavours and our joint technological knowhow we will become a driving force. In addition, we will significantly enhance our customer proximity and act as single source for beverage ingredients and formulations in Great Britain.”
Symrise has been active for more than five decades in Great Britain and is a highly valued supplier to the Food and Beverage industry. After significantly growing the sweet and savory activities in the past, Symrise now aims to further drive growth in the British beverage market category which comprises annual sales potential of more than 100 million GBP. Cobell’s state-of-the art manufacturing sites will play a decisive role in reducing lead times and make Symrise a partner that is even closer to its customers.
Cobell runs a modern plant in Exeter covering the full production cycle from sourcing ingredients, to developing customer-specific recipes through to blending and packaging products on an aseptic basis. The product range comprises juices, purees, cordials, concentrates and alcoholic drinks. Cobell generated sales of about 50 GBP million (58 EUR) and employs 56 people. Symrise will continue to run Cobell’s activities under the well-established Cobell brand.
Nick Russell, Vice President of Symrise said: “We approached Blake Morgan to assist with our acquisition of Cobell Limited. The team who assisted us were very professional and knowledgeable resulting in a smooth process for all involved. One thing that stood out was their commitment to resolving the challenges in hand along with great speed of execution. I would recommend and use Blake Morgan for future transactions requiring this depth of knowledge and understanding.”
“Cobell ideally complements the activities and will enhance Symrise’s local presence and customer proximity enabling the team to pursue their aim of driving further growth in the British beverage market. It has been a pleasure to act on their behalf,” added James Williams, Corporate Partner with Blake Morgan.
Blake Morgan has an international portfolio of multi-national client companies (public and private), SMEs, owner managed businesses and start-ups with a need for high-quality corporate and M&A support and advice.
The corporate team is acknowledged within the legal industry and in the independent legal directories, for providing a first-class level of service across a wide range of transactions including mergers, acquisitions, sales, private equity and joint ventures.