IFF completes the acquisition of Aromor

International Flavors & Fragrances Inc. has announced that it has completed the acquisition of Aromor Flavors and Fragrances Ltd., a privately held manufacturer and marketer of complex specialty ingredients that are used in fragrances and flavors.

IFF funded the transaction from existing resources. Aromor will become part of the IFF Fragrances Ingredients business and is expected to be accretive to IFF's earnings per share in 2014. 

The Aromor operations would have represented approximately $35 million of incremental sales to IFF's results in 2013 on a proforma basis. 

"We are pleased to complete this important strategic acquisition. We expect Aromor, with its strong R&D capabilities, to provide us with cost-effective, quality materials to use in our formula creations and external sales," said Doug Tough, CEO, IFF.

Nicolas Mirzayantz, group president, Fragrances, IFF, added: 

"A key component of our overall Ingredients strategy is to provide cost-advantaged, specialty molecules that enhance our development of consumer preferred fragrance compounds. We believe the use of the Aromor ingredients portfolio and their technology development process will be value enhancing by improving the overall profitability and win rate of our fragrance creations. We plan to continue to support the Aromor facility in Israel and invest in and develop their R&D and manufacturing capabilities in order to strengthen the development and production of specialty ingredients."

Rob Edelman, SVP Fragrance Ingredients, IFF, also commented:

"The Aromor acquisition is complementary to our existing ingredients portfolio and is an important step in increasing our scale and expertise in Ingredients. As Aromor is currently one of our suppliers, we have been working with the Aromor team for many years and are excited to have them join IFF. We look forward to working with the current Aromor management as they continue to lead and manage the company's operations."
Air Jordan