In a press release issued today, the UK Competition and Markets Authority (CMA) announced that it has identified a further line of investigation in the ongoing cartel proceedings concerning illegal agreements in the fragrance industry. These agreements extend to the poaching of employees.
Symrise is expressly excluded from these further investigations. Even if this does not allow any statement to be made about the ongoing investigations, Symrise considers itself confirmed in its opinion that the allegations are unfounded. Moreover, they have never been substantiated. Symrise has repeatedly emphasized in the past that it considers the investigations against the company to be unfounded and has also defended itself against the search in court at European level.
Symrise therefore continues to believe that also the CMA's ongoing investigation into Symrise will remain inconclusive. It will, of course, continue to cooperate with the authorities.