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Ohio Ag News Headlines |
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$7.1 Billion IFF/Frutarom Deal to Create Second Largest Firm
Ohio Ag Connection - 05/22/2018
U.S.-based International Flavors & Fragrances (IFF) announced its intentions to acquire Israeli flavor and fragrance ingredients company Frutarom in a stock and cash transaction worth $7.1 billion. This purchase will produce a market leader in natural products and a strong competitor for market leader Givaudan in the larger flavors and fragrances market.
FoodIngredientsFirst.com stated, "Consolidation within the flavors and fragrance industry has been on the cards since Swiss giant Givaudan agreed to acquire 40.6 percent of the shares of Naturex, the global leader in specialty plant-based natural ingredients in March."
According to Cleveland-based Freedonia Group analyst Christine O'Keefe, "Frutarom has been active in the acquisition sphere for the past few years, strengthening its position in the natural flavors market. With 75% of sales coming from natural flavors, this acquisition will enable IFF to better capitalize on the continued growth in demand for natural flavors, a trend expected to provide strong gains over the next five years. Frutarom's geographic reach and customer base -- primarily small to mid-sized customers -- also neatly meshes with IFF's."
The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning.
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