US fragrances giant IFF acquires Frutarom

The US fragrances giant International Flavors & Fragrances (IFF) has finalised an agreement for the acquisition of Frutarom, an Israel-based producer of flavours and ingredients for the pharmaceuticals, cosmetics and food industries.

The operation, valued at a staggering $7.1 billion, is expected to be completed within 6-9 months.

The Israeli group, the world’s sixth largest producer of flavours and fragrances, employs 2,700 people worldwide and in 2017 posted sales of $1.36 billion.

The two groups combined will generate consolidated revenues of $5.3 billion in 2018 to become the number one player in the sector worldwide.