International Flavors & Fragrances to acquire Frutarom in $7.1 billion deal

International Flavors & Fragrances Inc. said it has entered into a definitive agreement to buy U.K.-based Frutarom Industries Ltd., in a cash and stock deal valued at around $7.1 billion.

New-York-headquartered IFF IFF, +1.48% , which produces flavors, fragrances and active ingredients in cosmetics, said the deal will help it create a global leader in taste, scent and nutrition. Israeli-based Frutarom FRUT, +0.00% is a flavors, savory solutions and natural ingredients company.

“By combining our deep R&D expertise with Frutarom’s, we are offering our customers a broader range of solutions and accelerating our growth strategy. We believe this combination will lead to faster and more profitable growth, enhanced free cash flow and generate greater returns for our shareholders,” said IFF Chairman and CEO, Andreas Fibig, in a press release.

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