Houlihan Lokey Advises ADF/IDF

Houlihan Lokey is pleased to announce that American Dehydrated Foods, Inc./International Dehydrated Foods, Inc. (ADF/IDF) has been acquired by Symrise AG (Symrise) for $900 million. The transaction closed on November 1, 2019.

This deal represents another successful transaction for Houlihan Lokey in the food and beverage industry.

ADF/IDF was founded in 1978 and is a specialized producer of sustainable meat and egg-based nutrition ingredients. Headquartered in Springfield, Missouri, the company is a partner of choice for clients in the pet food, nutrition, and food industries, offering a wide range of natural and clean label product solutions. In pet food applications, the company has become a leading natural ingredient provider, offering taste and nutrition solutions as well as functional ingredients. With its highly recognized customer orientation, ADF/IDF has established a diverse client base consisting of many long-term, close relationships with global and regional pet food and food companies.

Symrise is a global supplier of fragrances, flavors, food, nutrition, and cosmetic ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, pharmaceuticals, and producers of nutritional supplements and pet food. Its sales of €3 billion in the 2017 fiscal year make Symrise a leading global provider in the flavor, nutrition, and fragrance markets. Headquartered in Holzminden, Germany, Symrise is represented by approximately 100 sites in Europe, Africa, the Middle East, Asia, the United States, and Latin America. Symrise works with its clients to develop new ideas and market-ready concepts for products that form an indispensable part of everyday life.

The combination of ADF/IDF and the Diana portfolio, within the Symrise Nutrition segment, will create a leading global player in meat and egg-based protein specialties with a focus on all-natural and sustainable solutions.