Haarman & Reimer/Dragoco
EQT Partners has been cleared to acquire two German-based flavour and fragrances manufacturers, Haarman & Reimer (H&R) and Dragoco Gerberding from the German Bayer Group. EQT Partners will control the whole of Dragoco and H&R following a purchase of shares and assets. The acquisition is being carried out through a German-based company, Isis Vermg-ensverwaltung, which was set up for this purpose.
Dragoco is controlled by its CEO Mr Gerberding, who is selling his shares in the company in return for a minority stake in Isis. He will be the CEO of the newly formed company. Caroline Rosen, partner at EQT Partners, said the reason the deal was notified was because EQT Partners wanted to acquire two companies who are competitors in the same industry.