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The flavors and fragrances maker Symrise is selling Pinova to DRT, a French pine chemicals maker, for $150 million. Pinova operates facilities in Georgia that extract rosin and resins from pine stump wood. It’s one of two units of Pinova Holdings, which Symrise acquired last year for $417 million from the private equity firm TorQuest Partners. Symrise is holding onto the other unit, Renessenz, which converts pine turpentine into fragrance and food ingredients. DRT recently opened its own pine chemicals plant in Georgia.
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