International Flavors & Fragrances Inc. has entered into a definitive agreement to acquire Frutarom, a flavors, savory solutions and natural ingredients company, in a cash and stock transaction. Valued at approximately $7.1 billion, the agreement has the unanimous approval by both companies’ boards of directors.
Expected to close in six to nine months, subject to Frutarom shareholder approval, clearance by the relevant regulatory authorities and other customary closing conditions, the transaction will create a worldwide leader in natural taste, scent and nutrition. Frutarom President and CEO Ori Yehudai will serve as a strategic advisor to IFF Chairman and CEO Andreas Fibig. IFF will remain headquartered in New York City and will maintain a presence in Israel.
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