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DRT to Buy Pinova from Symrise for USD 150 Million

Published on 2016-11-02. Author : SpecialChem

Symrise AG and DRT have signed an agreement regarding Pinova Inc., one of the leading manufacturers of specialty resins and chemical intermediates headquartered in Georgia, USA. DRT will acquire Pinova Inc. and its diversified portfolio of industry applications as well as its Brunswick manufacturing site from Symrise. The purchase price for Pinova Inc. amounts to USD 150 million. As part of the transaction, Symrise and DRT have also agreed on a co-operation for individual product development projects as well as for the supply of strategic raw materials.

Symrise and DRT to Cooperate in Product Development

DRT new logo pinova logo
DRT to Buy Pinova from Symrise for USD 150 Million

Pinova Inc. manufactures industry applications derived from pine stump wood and other natural resources for customers in more than 100 countries. The portfolio comprises specialty rosin, polyterpene resins, and sensory ingredients.

These products are included in applications, such as:
  • Adhesives
  • Construction 
  • Coatings and beverages 
  • Tires and rubber for the automotive industry

In the fiscal year 2016, Pinova Inc.’s activities are expected to generate sales in the amount of about USD 111 million.

Symrise to Continue Business Relationship


Symrise had acquired Pinova Inc. as one of two operating entities of US-American Pinova Holdings, Inc. in 2015. The activities of the holding’s former Renessenz entity, which manufactures ingredients for fragrances and oral care products as well as for food and beverages, have already been fully integrated into the Aroma Molecules division of Symrise’s Scent & Care segment. With Pinova Inc. as part of DRT, Symrise will continue a business relationship going forward. Both companies will cooperate in the area of product developments. Furthermore, Pinova Inc. will continue to supply specific strategic raw materials to Symrise, thereby providing efficient and reliable access to important fragrance ingredients materials.

Expanding DRT’s Position in US Market


Laurent Labatut, Chief Executive Officer of DRT, said: "With its compelling portfolio and impressive access to the US market, Pinova Inc. represents an ideal addition to our business. This acquisition complements our investment in our new production facility in Effingham County, Georgia, which will be fully operational in 2017. We see a lot of opportunities for growth as we combine our activities, providing more value to customers.”

Dr. Heinz-Jürgen Bertram, CEO of Symrise AG, said: “As part of our Scent & Care strategy, we sharpened our ingredients portfolio, putting a particular focus on solutions that are based on materials from renewable resources. The agreement signed with DRT brings strong benefits for all sides. For Symrise it unlocks resources, which allow us to advance expanding our fragrances activities while at the same time securing access to important raw materials. For Pinova Inc. the transaction opens additional prospects as the business will become a strong pillar of DRT, which will further drive its growth course and strengthen its foot print in the US market.”

The transaction is subject to antitrust approval. Closing is expected to take place by the end of this year.

About Pinova

Pinova delivers state-of-the-art performance specialty rosin, polyterpene resins, and sensory ingredients for many of the world’s most essential industries and best-known brands. Customers in over 100 countries use Pinova’s premium performance rosin resins and polyterpene resins to meet the exacting product standards in a wide variety of specialized markets.

About DRT

DRT (Dérivés Résiniques et Terpéniques) is specialized in the development of rosin and turpentine extracted from pine resin. As a French family-owned company, DRT employs 1,200 people and boasts sales of €350 million. Over 80% of sales are generated in international markets. DRT has sales offices and numerous industrial sites across the globe, including four factories in France, one in China and three in India through a joint venture. DRT mainly supplies the perfume, adhesive, rubber, ink and food supplement markets.

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Source: Symrise
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