JSA assisted Virchow Group on its partnership with Germany-based Symrise Group
The deal team included Lead Partner Sidharrth Shankar, Partner Prakriti Jaiswal, Principal Associate Anindita Basu, Senior Associates Abhilash Raghav and Rupaly Middha and Associate Shubhankar Tiwari.
Virchow Group, is a world leader in several pharmaceutical actives, will be establishing its strategic joint venture arrangement with the Germany-based Symrise Group, for manufacture of chemical ingredients for the cosmetics, and personal care/ home care industry in India. It is comprised of 6 API and drug intermediate manufacturing units, 2 biotech units and dedicated international marketing cell. The annual turnover of the group is more than $1 billion employing over 5,000 employees.
Earlier this year, Symrise AG in its press release announced an agreement to form a joint venture with Virchow Group. The group of pharmaceutical companies based in India will manufacture personal care ingredients from the Symrise portfolio through the joint venture. The new company operates under the name Vizag Care Ingredients Private Limited. It combines Virchow’s longstanding presence in the Indian market and expertise in synthetic chemistry based pharmaceutical actives manufacturing with the market-leading portfolio of beauty ingredients of Symrise.
Symrise owns the majority in the new entity. It is based in Visakhapatnam, India, including one local chemical manufacturing site. Production is to begin in H1 2024. The expansion plans over the coming years are anticipating substantial annual capacities to deliver the ambitious growth trajectory of Symrise in cosmetic ingredients. Symrise’s global sales organization will carry out promotion and sales activities of the products manufactured by the joint venture.
With inputs from JSA’s announcement and Symrise’s press release.
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