IFF Celebrates Completion of Frutarom Combination with Ringing of NYSE Opening Bell
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181008005734/en/
(Photo: Business Wire)
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.
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
International Flavors & Fragrances Inc.
Michael DeVeau, 212-708-7164
VP, Global Corporate Strategy, Investor Relations & Communications
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