US Drops Antitrust Case Against German Fragrance Maker Symrise

The German manufacturer said the U.S. Department of Justice has ended its investigation into the company, concluding that no unlawful anti-competitive conduct by Symrise had been established, according to Reuters. The probe had been part of a broader examination of potential anti-competitive practices within the sector.

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Symrise, along with industry peers Givaudan, Firmenich — which has since merged with DSM — and International Flavors & Fragrances, came under investigation by competition authorities in 2023 over suspicions of anti-competitive agreements, per Reuters. The inquiries focused on whether major players in the market had engaged in practices that could have restricted competition.

While Symrise said it has been cleared in the U.S. proceedings, the wider investigation has had consequences elsewhere in the industry. Last October, International Flavors & Fragrances agreed to pay $26 million to settle parts of the case, according to Reuters.

The decision to drop the case against Symrise removes a regulatory overhang that had weighed on the company since the investigation became public. The fragrance and flavorings sector, which supplies ingredients to food, beverage, cosmetics and household goods manufacturers, remains closely watched by regulators amid ongoing concerns about competition in concentrated global markets.

Symrise did not indicate whether any related investigations remain ongoing in other jurisdictions.

Source: Reuters