News
IFF completes Frutarom acquisition
11 Oct 2018IFF has completed its acquisition of Frutarom, anticipating that the combination will translate into accelerated financial performance, with robust top and bottom-line growth.
![IFF completes Frutarom acquisition](/img/ingnet-logo.png)
IFF has completed its acquisition of Frutarom.
“The coming together of IFF and Frutarom is a momentous achievement. We are excited to be moving forward as one company and pursuing new opportunities that benefit all our stakeholders around the globe,” said IFF Chairman and CEO, Andreas Fibig. “Over the past several months, our integration planning teams have been working to ensure that we capture the best of both companies and create a seamless and efficient transition to achieve both our operational and financial targets for this combination. Today, we are celebrating the creation of a new IFF with even greater aspirations as a leader in taste, scent and nutrition. On behalf of everyone at IFF, we welcome Frutarom and its talented team, and look forward to working closely with all employees to continue to deliver winning products to our customers and maximizing long-term value for our shareholders.”IFF anticipates the combination with Frutarom will translate into accelerated financial performance, with robust top and bottom-line growth. The company expects to generate an average sales growth of 5-7%, and 10% adjusted cash EPS growth, on a currency neutral and pro-forma basis, over the 2019 to 2021 period. IFF also believes it will realise $145 million in cost synergies by rationalising procurement, optimising global footprint and streamlining overhead expenses by the third full year after the completion of the merger. The company will be prioritising repayment of debt and anticipates to be less than 3x net debt to EBITDA in 18-24 months to retain its investment grade rating.The combined company will be headquartered in New York City and will maintain a presence in Israel.Related news
![Could Mexico’s salt-cutting measures extend to reformulation?](/47/pdcnewsitem/12/47/45/th124745.png)
Could Mexico’s salt-cutting measures extend to reformulation?
25 Jun 2024
Mexico’s consumer watchdog has called on food industry to reduce salt in processed products available in the country to reduce cardiovascular diseases.
Read more![Will ASEAN harmonise food marketing rules for children?](/47/pdcnewsitem/12/47/17/th124717.png)
Will ASEAN harmonise food marketing rules for children?
21 Jun 2024
ASEAN Health Ministries and UNICEF release new guidelines on how food and beverage brands should market their products to children to protect them from harm.
Read more![Food scientists uncover new way to preserve nutrient and flavour quality](/47/pdcnewsitem/12/45/35/th124535.png)
Food scientists uncover new way to preserve nutrient and flavour quality
29 May 2024
Researchers have developed a method that guarantees food safety for low-moisture products, such as dried milk, while maximising quality by retaining vitamins, minerals, and flavours, they say.
Read more![Gatorade turns on the tap, introducing alkaline water to its latest product offerings](/47/pdcnewsitem/12/43/14/th124314.png)
Gatorade turns on the tap, introducing alkaline water to its latest product offerings
10 May 2024
PepsiCo’s Gatorade has diversified its product portfolio, launching unflavoured alkaline water and energy drink mixes.
Read more![Plant-based marketing 101: How to create a standout plant-based dairy product](/47/pdcnewsitem/12/42/32/th124232.png)
Plant-based marketing 101: How to create a standout plant-based dairy product
30 Apr 2024
Aurore de Monclin from HMT, the marketing firm that helped rebrand Oatly, shares her tips to create a plant-based dairy brand that stands out from the crowd.
Read more![Balenti adds the benefits of baobab to functional nut butters](/47/pdcnewsitem/12/41/94/th124194.png)
Balenti adds the benefits of baobab to functional nut butters
19 Apr 2024
French startup Balenti uses sustainably sourced, wild-harvested baobab fruit to make its healthy nut butters with functional benefits.
Read more![US legislative push to ban 7 food additives in schools](/47/pdcnewsitem/12/42/04/th124204.png)
US legislative push to ban 7 food additives in schools
17 Apr 2024
Proposed legislation would prohibit the use of seven additives – six artificial colours and titanium dioxide – in food and drink served in US state schools.
Read more![Portugal officially adopts NutriScore](/47/pdcnewsitem/12/41/57/th124157.png)
Portugal officially adopts NutriScore
10 Apr 2024
Portugal has adopted the NutriScore as its official – but voluntary – front-of-pack nutrition label to promote healthy eating, with researchers calling this “a great victory for science and public health”.
Read more![R3PACK Consortium backs BPA ban](/47/pdcnewsitem/12/41/14/th124114.png)
R3PACK Consortium backs BPA ban
9 Apr 2024
The EU-funded research project, R3PACK, urges a ban on Bisphenol A (BPA) and calls for rigorous rules, promoting transparency and prioritising health and the environment.
Read more![Ultra-processed food intake in South Africa at concerning levels, study suggests](/47/pdcnewsitem/12/39/42/th123942.png)
Ultra-processed food intake in South Africa at concerning levels, study suggests
19 Mar 2024
As South Africa considers introducing front-of-pack warning labels and strict marketing limits for unhealthy foods, research has found that low-income South Africans get around half of their calories from ultra-processed foods (UPFs) – “a cause for con...
Read more