International Flavors & Fragrances Inc (IFF) has entered into a definitive agreement to acquire Frutarom Industries Ltd for approximately $7.1 billion.
By combining with Frutarom, IFF is accelerating its Vision 2020 strategy to create a global leader in taste, scent and nutrition. The combination unites two industry-leading, innovative companies with complementary customers, capabilities and geographic reach, resulting in more exposure to fast-growing end markets and an enhanced platform to deliver sustainable, profitable growth. The combined company’s customers will have access to comprehensive and differentiated integrated solutions with increased focus on naturals and health and wellness.
Following the close of the transaction, Ori Yehudai, president and CEO of Frutarom, will serve as a strategic advisor supporting Andreas Fibig, chairman and chief executive officer of IFF. IFF will remain headquartered in New York City and will maintain a presence in Israel. IFF’s stock at closing will be listed on the New York Stock Exchange (NYSE) and the Tel Aviv Stock Exchange (TASE).
The transaction is expected to close in six to nine months.
Compelling strategic rationale
Establishes industry leadership in naturals: The transaction creates a global leader in natural taste, scent and nutrition, as 75 percent of Frutarom’s sales are natural.
International Flavors & Fragrances Inc (IFF) has entered into a definitive agreement to acquire Frutarom Industries Ltd for approximately $7.1 billion.
By combining with Frutarom, IFF is accelerating its Vision 2020 strategy to create a global leader in taste, scent and nutrition. The combination unites two industry-leading, innovative companies with complementary customers, capabilities and geographic reach, resulting in more exposure to fast-growing end markets and an enhanced platform to deliver sustainable, profitable growth. The combined company’s customers will have access to comprehensive and differentiated integrated solutions with increased focus on naturals and health and wellness.
Following the close of the transaction, Ori Yehudai, president and CEO of Frutarom, will serve as a strategic advisor supporting Andreas Fibig, chairman and chief executive officer of IFF. IFF will remain headquartered in New York City and will maintain a presence in Israel. IFF’s stock at closing will be listed on the New York Stock Exchange (NYSE) and the Tel Aviv Stock Exchange (TASE).
The transaction is expected to close in six to nine months.
Compelling strategic rationale
Establishes industry leadership in naturals: The transaction creates a global leader in natural taste, scent and nutrition, as 75 percent of Frutarom’s sales are natural.
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