Financial terms of the transaction have not been disclosed
US based International Flavours & Fragrances (IFF) has completed the acquisition of Aromor Flavors and Fragrances Ltd., an Israel based manufacturer and marketer of complex specialty ingredients that are used in fragrances and flavours. Although financial terms of the transaction have not been disclosed, IFF has revealed that it funded the transaction from existing resources.
“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 IFF CEO Doug Tough.
“A key component of our overall Ingredients strategy is to provide cost-advantaged, specialty molecules that enhance our development of consumer preferred fragrance compounds,” added Nicolas Mirzayantz, Group President Fragrances at IFF. “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.”