NEW YORK--(BUSINESS WIRE)--Oct. 8, 2018--
Regulatory News:
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International Flavors & Fragrances Inc. (NYSE and Euronext Paris: IFF)
announced today that members of its senior management team rang the New
York Stock Exchange (NYSE) Opening Bell® today, October 8, 2018, at 9:30
a.m. Eastern Daylight Time to celebrate the completion of IFF’s
combination with Frutarom, creating a global leader in taste, scent and
nutrition.
Rich O’Leary, Executive Vice President and CFO, said, “It was a truly
exciting day for IFF as we were able to celebrate becoming a global
leader in taste, scent and nutrition by ringing the NYSE Opening Bell.
When we were first listed on the NYSE in 1964, our revenue was $52
million, and now, as we approach our 55th year being listed, our
pro-forma 2018 revenue will be $5.3 billion. IFF’s combination with
Frutarom accelerates our innovation platform, extends our portfolio of
offerings and supports IFF as our customers’ partner of choice. IFF is
now even better positioned to deliver sustainable, profitable growth
through its enhanced platform and broader exposure to fast-growing end
markets. We are excited to move forward as one company to deliver
significant value creation for our customers, employees, partners and
shareholders.”
IFF’s Transformative Combination with Frutarom
On October 4, 2018, IFF completed its acquisition of Frutarom. As a
result, the combination:
-
Creates a differentiated portfolio with an increased focus on naturals
and health and wellness as well as more comprehensive solutions;
-
Provides opportunities to expand into attractive and fast-growing
categories, such as savory solutions, natural colors, natural food
protection and health ingredients;
-
Broadens complementary and growing customer base, including enhanced
exposure to the fast-growing small- and mid-sized customers, such as
private label;
-
Establishes enhanced platform to deliver sustainable, profitable
growth; and
-
Provides strong value creation opportunities to maximize shareholder
value – including cross-selling benefits as well as cost synergies.
Meet IFF
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF)
is a leading innovator of scent, taste, and nutrition, with over 110
manufacturing facilities, 100 R&D centers, and 33,000 customers
globally. At the heart of our company, we are fueled by a sense of
discovery, constantly asking “what if?”. That passion for exploration
drives us to co-create unique products that consumers experience in more
than 150,000 unique products sold annually. Our 13,000 team members
globally take advantage of leading consumer insights, naturals
exploration, research and development, creative expertise, and customer
intimacy to develop differentiated offerings for consumer products.
Learn more at www.iff.com,
Twitter,
Facebook,
Instagram,
and LinkedIn.
International Flavors & Fragrances Inc.
521 West 57th
Street
New York, NY 10019
T +212.765.5500
F +212.708.7132
iff.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20181008005734/en/
Source: International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc.
Michael DeVeau,
212-708-7164
VP, Global Corporate Strategy, Investor Relations &
Communications
Michael.DeVeau@iff.com
