IFF to Acquire Fragrance Resources
Founded in 1987, Fragrance Resources is a privately-held, family-owned
fragrance company. For almost 30 years, it has distinguished itself with
exceptional creative talent and quality service to faster-growing
regional customers. The company has facilities in
“IFF’s Vision 2020 business strategy is well-served with this
highly-complementary bolt-on acquisition, helping us to win where we
compete in key fragrance markets and categories as we look to accelerate
growth,” said IFF Chairman and CEO
The transaction, funded from existing resources, is expected to add
approximately
The completion of this transaction is subject to clearance by the
relevant regulatory authorities and satisfaction of other customary
closing conditions. Until the transaction closes, which is expected to
occur during
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements regarding IFF’s expected future financial position, results
of operations, cash flows, financing plans, business strategy, budgets,
capital expenditures, competitive positions, growth opportunities, plans
and objectives of management and statements containing the words such as
“anticipate,” “approximate,” “believe,” “plan,” “estimate,” “expect,”
“project,” “could,” “should,” “will,” “intend,” “may” and other similar
expressions, are forward-looking statements. Statements in this press
release concerning IFF’s business outlook or future economic
performance, anticipated profitability, revenues, expenses or other
financial items, and product or services line growth, together with
other statements that are not historical facts, are forward-looking
statements that are estimates reflecting the best judgment of IFF based
upon currently available information. Such forward-looking statements
are inherently uncertain, and stockholders and other potential investors
must recognize that actual results may differ materially from IFF’s
expectations as a result of a variety of factors, including, without
limitation, those discussed below. Such forward-looking statements are
inherently uncertain, and stockholders and other potential investors
must recognize that actual results may differ materially from IFF’s
expectations as a result of a variety of factors, including, without
limitation, those discussed below. Such forward-looking statements are
based upon management’s current expectations and include known and
unknown risks, uncertainties and other factors, many of which IFF is
unable to predict or control, that may cause IFF’s actual results,
performance or plans to differ materially from any future results,
performance or plans expressed or implied by such forward-looking
statements. These statements involve risks, uncertainties and other
factors discussed below and detailed from time to time in IFF’s filings
with the
Risks and uncertainties related to IFF’s acquisition of Fragrance Resources include, but are not limited to, uncertainties as to whether the acquisition will have the accretive effect on IFF’s earnings or cash flows that it expects, the inability to obtain, or delays in obtaining, cost savings and synergies from the acquisition, costs and difficulties related to the integration of Fragrance Resources’ businesses and operations with IFF businesses and operations, unexpected costs, liabilities, charges or expenses resulting from the acquisition, adverse effects on IFF’s stock price resulting from the acquisition, the inability to retain key personnel, and potential adverse reactions, changes to business relationships or competitive responses resulting from the acquisition.
In addition to the factors set forth above, other factors that may affect IFF’s plans, results or stock price are set forth in IFF’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Many of these factors are beyond IFF’s control and IFF cautions investors that any forward-looking statements made by IFF are not guarantees of future performance. IFF disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements to reflect future events or developments.
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Source:
IFF
Michael DeVeau, 212-708-7164
VP, Global Corporate
Communications & Investor Relations
Michael.DeVeau@iff.com