By combining with Frutarom, IFF said it is accelerating its Vision 2020 strategy to create a global leader in taste, scent and nutrition. The combined company’s customers will have access to comprehensive and differentiated integrated solutions with increased focus on naturals and health and wellness, according to IFF.
“This transaction is a big win and a fantastic outcome for shareholders, customers and employees of both companies,” said IFF Chairman and CEO Andreas Fibig. “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.”
Fibig added that IFF has “long admired Frutarom and have a great deal of respect for its team and all of its dedicated and talented employees around the globe.”