Global creator of flavours and fragrances International Flavors & Fragrances Inc. (IFF) is acquiring Fragrance Resources, a privately-held, family-owned fragrance company. Founded by Horst F.-W. Gerberding in 1987, Fragrance Resources has facilities in Germany, North America, France, and China.
“Since 1987, the Fragrance Resources team has been a key player in specialty fine fragrances – an important growth category. The addition of this outstanding company into the IFF family will help us strengthen our position in strategic areas and further penetrate the critical and accelerating regional customer base that we see as the engine of growth. We look forward to welcoming the Fragrance Resources family into ours,” said Nicolas Mirzayantz, Group President, Fragrances, IFF.
The transaction, funded from existing resources, is expected to add approximately US$75 million in revenue. The completion of the deal, which is expected to occur during January 2017, is subject to clearance by the relevant regulatory authorities. Until that date, Fragrance Resources and IFF will operate as separate companies. Financial terms have not been disclosed.
