IFF Mergers and Acquisitions Summary

ChemicalsCompany

IFF has acquired 12 companies, including 5 in the last 5 years. It has also divested 3 assets.

IFF’s largest acquisition to date was in 2018, when it acquired Frutarom Industries for $7.1B. It’s largest disclosed sale occurred in 2021, when it sold International Flavors & Fragrances - Microbial Control Business to LANXESS AG for $1.3B. IFF has acquired in 4 different US states, and 5 countries. The Company’s most targeted sectors include consumer products (34%) and food (34%).

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M&A Summary

  • M&A Total Activity15
    • M&A Buy Activity12
    • M&A Sell Activity3
  • Total Sectors Invested 4
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 5
  • M&A Advisors 10

IFF

International Flavors & Fragrances, Inc.

521 West 57th Street,
New York, New York 10019
United States,
(212) 765-5500
www.iff.com

IFF is a provider of flavors and fragrances used in a wide variety of consumer products. Consumers experience these unique scents and tastes in fine fragrances and beauty care, detergents, and household goods, as well as beverages, sweet goods, and food products. IFF was founded in 1833 and is based in New York City.


M&A Summary

Buy vs Sell

Year ≤ '18 '19 '20 '21 '22 '23 T
Buy (0.8/yr) # 8 3 - - 1 - 12
vol $7.4B $7.4B
Sell (0.6/yr) # - - - 1 1 1 3
vol $1.3B $900M $220M $2.4B
  15

Most Recent M&A

Company Date Value Type
IFF - Flavor Specialty Ingredients Business 2023-02-16 220M USD Divestiture
New York, New York
FRUTAROM Savory Solutions Austria GmbH 2022-12-20 900M USD Divestiture
Salzburg, Austria · www.frutaromsavory.com
Health Wright Product, Inc. 2022-02-16 - Add-on Acquisition
Clackamas, Oregon · www.healthwrightproducts.com
International Flavors & Fragrances - Microbial Control Business 2021-08-23 1.3B USD Divestiture
New York, New York
DuPont Nutrition & Biosciences 2019-12-15 - Divestiture
Copenhagen, Denmark · www.dupontnutritionandbiosciences.com
Leagel S.r.l. 2019-03-13 - Add-on Acquisition
Chiesanuova, San Marino · www.leagel.com
The Additive Advantage (TAA) 2019-02-19 - Add-on Acquisition
North Reading, Massachusetts · www.theadditiveadvantage.com
Frutarom Industries Ltd. 2018-05-07 7.1B USD Add-on Acquisition
Haifa Bay, Israel · www.frutarom.com
Columbia Phytotechnology LLC (dba PowderPure) 2017-04-10 - Add-on Acquisition
The Dalles, Oregon · www.powderpure.com
Fragrance Resources, Inc. 2016-11-03 - Add-on Acquisition
Clifton, New Jersey · www.fragranceresources.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Lucas Meyer Cosmetics SAS 2015-07-30 Kemin Industries, Inc. - Sustainable Ingredients 2018-12-04 2
Champlan, France · www.lucasmeyercosmetics.com , Iowa

M&A by Sector

Sector Buy # Value Sell # Value
Food 4 (33%) - 1 (33%) 900M (37%)
Chemicals 3 (25%) 319M (4%) 2 (67%) 1.5B (63%)
Consumer Products 4 (33%) 7.1B (96%) - -
Medical Products 1 (8%) - - -
Total 12 $7.4B 3 $2.4B

By Geo

State/Country Buy Value Sell Value
United States 7 - 2 1.5B
  Pennsylvania 2 - - -
  Oregon 2 - - -
  New Jersey 2 - - -
  New York - - 2 1.5B
  Massachusetts 1 - - -
Israel 2 7.1B - -
Austria - - 1 900M
Denmark 1 - - -
France 1 319M - -
San Marino 1 - - -
Domestic 7 (58%) - 2 (67%) 1.5B (63%)
Cross-border 5 (42%) 7.4B (100%) 1 (33%) 900M (37%)
Total 12 $7.4B 3 $2.4B

Top M&A Advisors

Financial Deals
Morgan Stanley
4
J.P. Morgan Securities LLC
1
Greenhill & Co., Inc.
1
Legal Deals
Cleary Gottlieb Steen & Hamilton LLP
5
Gornitzky & Co.
1
Cravath, Swaine & Moore LLP
1

Deal Values

buy # Total
> $1B 1 $7.1B
$100M to $1B 1 $319M
TOTAL $7.4B
Largest Frutarom Industries Ltd.
$7.1B (2018-05-07)
sell # Total
> $1B 1 $1.3B
$100M to $1B 2 $1.1B
TOTAL $2.4B
Largest International Flavors & Fragrances - Microbial Control Business
$1.3B (2021-08-23)

M&A Connections

Deals
Acquired from
Strategic(s)
17%
2 (17%)
Divested to
Investor(s)
67%
2 (67%)
Strategic(s)
33%
1 (33%)

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