IFF Celebrates Completion of Frutarom Combination with Ringing of NYSE Opening Bell
October 08 2018 - 4:15PM
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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
StreetNew York, NY 10019
T +212.765.5500F +212.708.7132iff.com
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version on businesswire.com: https://www.businesswire.com/news/home/20181008005734/en/
International Flavors & Fragrances Inc.Michael DeVeau,
212-708-7164VP, Global Corporate Strategy, Investor Relations &
CommunicationsMichael.DeVeau@iff.com
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