German speciality chemical maker Symrise has said the United States Department of Justice (DoJ) has closed an anti-trust investigation against it.
Symrise, Givaudan, IFF and DSM-Firmenich have been under investigation by US and European Union authorities since 2023 in relation to an alleged illegal cartel.
Authorities then indicated that the fragrance houses potentially coordinated price increases, allocated markets, and limited the sale of certain fragrances and ingredients.
In a statement, Symrise said it welcomed the decision by the DoJ.
“No unlawful practice of Symrise has been found. The company has always maintained that it did not participate in any unlawful agreements with competitors in the fragrance business.
“Symrise has argued strongly from the outset that it should never have been part of this investigation and that the actions taken by the authorities were not justified.
“The company remains committed to ethical business practices and regulatory compliance and looks forward to the similar investigations by other authorities against Symrise also being discontinued soon.”
In October, IFF agreed to pay $26 million to resolve part of an antitrust class action targeting alleged price-fixing in the US fragrance ingredients market.
The settlement class covers US entities that purchased fragrance products directly from IFF between January 2018 and December 2023.
