IFF acquires Frutarom
IFF finalised the acquisition of Frutarom. This acquisition is giving IFF greater aspirations as a leader in scent, taste and nutrition. The combination of IFF and Frutarom is anticipated to accelerate the financial performance. The Company is expected to generate an average sales growth of 5-7%, and 10% adjusted cash EPS growth by 2021. The operational targets, as well as financial targets, are anticipated to be reached. As per the CEO, the coming together of IFF and Frutarom is a big attainment. Leading forward as one company and looking out for new opportunities and innovation will benefit both, the customers as well as the firm. The combination of both company is headquartered in New York City and it will also maintain its presence in Israel. The general shares of Frutarom are no longer traded in Tel Aviv Stock Exchange or the London Stock Exchange.
About IFF: IFF is amongst some major players in scents, taste and nutrition market. It has manufacturing around 110 manufacturing facilities, catering about 33,000 customers. It also has around 100 Research and Development centres for innovation.
About Frutarom: It is an Israel based firm manufacturing and distributing the extracts for flavors and fragrances. They cater to customers in food & beverage, cosmetic, pharmaceuticals, and other industry. The business segment includes flavor division and fine ingredient division.
– Vasundhra Singh,
Assistant Research Executive,