International Flavors & Fragrances to buy Frutarom

 

Frutarom has a strong track record of growth, with expected sales of above USD 1.6 bn in 2018, and their previously announced target of USD 2.25 bn in sales by 2020.By combining with Frutarom, IFF is seeking to accelerate its Vision 2020 strategy to create a global leader in taste, scent and nutrition. The move comes a few weeks after flavors and fragrances company Givaudan announced an agreement to acquire 40.6% of the shares of Naturex, the global leader in specialty plant-based natural ingredients. IFF and Frutarom report to having complementary customers, capabilities and geographic reach, as such it is hoped the combination of the two will result in more exposure to fast growing end markets and an enhanced platform to deliver sustainable, profitable growth.