International Flavors & Fragrances (IFF) is acquiring Israel’s Frutarom for $7.1 billion to create a “global leader in taste, scent and nutrition”.
IFF said the deal pools both companies’ collective resources and geographic reach together, giving customers of the combined company access to comprehensive solutions with increased focus on naturals and health and wellness.
Andreas Fibig, IFF Chairman and CEO, said: “Frutarom has an extremely attractive product portfolio, including broad expertise in naturals and diverse adjacencies with capabilities beyond our core taste and scent businesses. It also has significant exposure to complementary and fast-growing small- and mid-sized customers.
“By combining our deep R&D expertise with Frutarom’s, we are offering our customers a broader range of solutions and accelerating our growth strategy. We believe this combination will lead to faster and more profitable growth, enhanced free cash flow and generate greater returns for our shareholders.”