Haarmann & Reimer, Dragoco Merger To Yield $1.25 Bil. Global Business
This article was originally published in The Rose Sheet
Executive Summary
Haarmann & Reimer and Dragoco will be combined into a $1.25 bil. (€1=$1) flavor, fragrance and cosmetic ingredient business under an acquisition plan announced by Swedish equity fund group EQT Northern Europe Private Equity Funds, the firms announced July 17
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H&R/Dragoco acquisition
Haarmann & Reimer and Dragoco fragrance and flavors businesses will be merged into one German firm under holding company Isis Vermögensverwaltung after receiving regulatory clearance from the European Commission Sept. 17. Commission concluded there is "sufficient competition in the European market" for flavors, fragrances, aroma chemicals and cosmetics and combined market share will not exceed 15% for any of the ingredients concerned. Swedish equity fund group EQT Northern Europe Private Equity Funds announced it would combine H&R, acquired from Bayer, and Dragoco into one $1.25 bil. business in June (1"The Rose Sheet" July 22, 2002, p. 3)...