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H&R/Dragoco management

This article was originally published in The Rose Sheet

Executive Summary

Combined fragrance and flavors businesses, acquired by Swedish EQT Northern Europe Equity Funds, will be headed by Horst-Otto Gerberding as CEO, firm says following close of transaction Oct. 1. Among other management team appointments, Dan Stebbins will be in charge of flavors, while Tim Schaffner will head fragrances and cosmetics. Horst Finkelmeier will oversee aroma chemicals, Heinz-Jurgen Bertram will be in charge of R&D, Jurgen Nienhaus is named head of operations, and Martin Wolf is chief financial officer. Merger received clearance from European Commission in September (1"The Rose Sheet" Sept. 23, 2002, In Brief)...

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Symrise

James Forman appointed CEO and president of flavors and fragrance supplier as company moves beyond integration phase into preparing for an initial public offering within the next three to four years, Holzminden, Germany firm reports Sept. 15. Effective Oct. 1, Forman will succeed Horst-Otto Gerberding, who will become vice chairman of the board. Gerberding's role as CEO and president was intended as an interim position during the integration phase of the Dragoco and Haarmann & Reimer businesses (1"The Rose Sheet" Oct. 14, 2002, In Brief). Gerberding will continue to help oversee the company's strategic direction and position it for the IPO. Forman most recently served as CEO of consumer products company Stollwerck AG...

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)...

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