Symrise has signed an agreement to acquire Futura Labs Group, a leading flavors and fragrances manufacturer in Egypt and the United Arab Emirates. A purchase price was not disclosed. Futura had sales of about $15 million in 2008.

With this acquisition, Symrise expands its footprint in several large and attractive markets in this region and creates the new market leader in Egypt. The product portfolio and client list of Futura Labs have an excellent fit with the existing operations of Symrise in Egypt, according to Symrise.

The acquisition is a significant step in expanding the presence of Symrise in Egypt, a fast-growing market with a population of 80 million, and in the dynamic Gulf region. Futura Labs is a privately-held group headquartered in Cairo and the leading local manufacturer of flavors, emulsions and beverage compounds, extracts, seasonings and fragrances. It owns development and production facilities in Cairo and a recently established production facility in Dubai. The personnel have an in-depth knowledge about the local taste preferences and consumer demands, according to Symrise.