Symrise AG has increased its holdings in Kobo Products Inc., increasing its stake to 49%. The transaction creates further opportunities for both companies in the fields of mineral UV filters and decorative cosmetics.
The company's partnership with Kobo began in 2021. This second investment and the related increase of the Symrise holding includes an agreement on the future disposition of shares of Kobo´s capital stock and the governance of Kobo. The funds raised in this transaction are to be used to expand capacity and enhance the supply chain, per the company.
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Jörn Andreas, Ph.D., executive board member responsible for scent and care at Symrise, commented: “Kobo Products Inc. is the perfect partner for our activities in the field of inorganic sunscreen filters and color solutions for decorative cosmetics."
David Schlossman, president and majority owner of Kobo Products Inc., commented: “Symrise has established itself as a reliable and trusted partner over the past two years... Their second investment is exactly the commitment we were seeking in a partnership of this kind. The Symrise teams have been extremely welcoming to us and engaged in the products. We have a lot of exciting work ahead that will surely create new opportunities for our customers and employees.”
