IFF reports strong first-half results, “performance was broad-based,” says CEO

08 Aug 2018 --- International Flavors & Fragrances Inc. (IFF) has reported its financial results and strategic achievements for the second quarter ended June 30, 2018. Top-line trends remained strong in the second quarter, marking the fourth consecutive quarter of mid-single digit growth, according to IFF Chairman and CEO, Andreas Fibig.

Natural and clean label expansion: Firmenich acquires Campus, Italian innovator in protein solutions

08 Aug 2018 --- Firmenich has acquired Italy-based Campus, an innovator in the application of natural functional ingredients for protein applications, specializing in clean label, meat and plant-based foods. This acquisition broadens Firmenich’s capabilities in naturals and protein solutions, cutting across animal and vegan food products. Neither party is disclosing financial details of the deal, which is expected to close by the end of this week.

Bright futures: The evolution of natural colors and a “less is more” approach

07 Aug 2018 --- The trend for natural colors is part of a wider shift in consumer awareness about health and wellbeing and a desire for cleaner and safer food products. Consumers now have access to more information than ever before and, as a result of demand and pressure from health interest groups, the natural ingredients space has been growing steadily for several years now. In light of this, the incentive is now overwhelming for food manufacturers to clean up their products. This is being reflected in the rapid uptake of natural colors in new product launches.

Flavor merger progress: Frutarom shareholders overwhelmingly approve takeover by IFF

07 Aug 2018 --- Frutarom shareholders voted to approve the proposed combination of Frutarom and International Flavors & Fragrances Inc. (IFF) at the general meeting of Frutarom shareholders yesterday. Of the votes cast, 94.6 percent were in favor of the proposed merger, representing approximately 74.7 percent of all outstanding shares.

Global flavors & fragrances market to reach US$36 billion in 2022

06 Aug 2018 --- The global flavors and fragrances market continues to show good rates of growth across the various regions, according to IAL Consultants. The company has published the 11th edition of its report on the global markets for Flavors & Fragrances. The total global market reached US$28.2 billion in 2017, an increase of 4.6 percent compared to the previous year and is expected to grow at an average annual rate of 4.9 percent p.a. to reach approximately US$36 billion in 2022. Of the total world market, flavors account for approximately 56 percent and fragrances for the remaining 44 percent.

The consolidating ingredients sector: Ingredion convergence epitomizes a tightening sector

23 Jul 2018 --- The integration of several portfolios into a single larger ingredient entity was a key theme at the IFT 2018 Food Expo in Chicago last week. The relatively small trade show floor was a reminder of how many previous exhibiting companies have been swallowed up over recent years, in order to be integrated into the likes of DSM (e.g. Martek, Ocean Nutrition Canada and Fortitech), Kerry (e.g. Ganeden, Red Arrow and Biothera), ADM (Wild Flavors) and IFF (Ottens Flavors and David Michael). Naturex (currently being acquired by Givaudan) could be the next to disappear from a show floor, amid a consolidating ingredients world, where questions must soon be raised about a growing lack of competition and diversity in ultimate holding companies. 

Sensient execs on Mazza buy: “We want to take everything out of the botanical”

20 Jul 2018 --- Sensient is eyeing the newly acquired botanical extraction company Mazza Innovation as a strategic pillar for all of its business operations, including colors and flavors. Presented under the new name of “Sensient Natural Extraction” and continuing to operate out of Canada, the new business unit provides a clean extraction opportunity for Sensient Technologies Corp. The acquisition will offer opportunities in sustainability, cost reduction and clean label, as the entire botanical being used can be broken down and distributed among the diverse companies that comprise Sensient.

Weekly Digest: IFF sets environmental goals for 2025, Gillco & Cargill enter distribution agreement

29 Jun 2018 --- This week in business, International Flavors & Fragrances (IFF) launched a new set of environmental goals, UNITAR announced a partnership with Danone that aims to bring education on climate change to drive sustainable change. Also this week, Kalsec released its first social responsibility report to share its sustainability efforts with stakeholders and Gillco Ingredients and Cargill’s Food Ingredients & Bioindustrial business in the US entered into a distribution agreement.

UK FSA maintains safety guidance on acrylamide and furan

27 Jun 2018 --- The UK’s Food Standards Agency has investigated levels of acrylamide and furan in an extensive range of retail foods, concluding that what it found does not increase concerns about the risk to human health. As a result, the FSA will not be changing its advice to consumers about acrylamide and furan.

World Cup flavor fever: Russian blends and cuisines take center stage

15 Jun 2018 --- With football World Cup hosts Russia opening up their campaign with a 5-0 drubbing of Saudi Arabia yesterday, a higher sense of optimism now exists around the national team, despite their lowly world ranking and recent form. Flavors and cuisines from the hosting country are also in the spotlight. World Cups and Olympic Games offer consumers the chance to try out new cuisines from the spotlighted host countries and this year is no exception, with a wealth of flavors and cuisines on offer from this vast and diverse country.

Firmenich launches Natural and Clean Label platform as traceability evolution at major flavor houses accelerates

11 Jun 2018 --- Firmenich, the largest privately held flavor and fragrance company in the world, has launched its Natural and Clean Label platform to create “great tasting, natural and traceable food and beverage experiences.” Combining its mastery of taste and naturals, with its world-class science and consumer understanding, Firmenich is focused on creating the most authentic flavors. Committed to full traceability, Firmenich is going far beyond today’s labeling requirements to provide its customers and their consumers with information they can understand and trust.

Givaudan completes acquisition of 40.5 percent stake in Naturex, confirms intention to go for outstanding shares

05 Jun 2018 --- Global flavors and fragrance company, Givaudan, has completed the acquisition of 40.5 percent of the share capital of Naturex at a price of €135 per share as announced on March 26, 2018 for a total consideration of €522 million. As a result, Givaudan has confirmed its intention to file a mandatory cash tender offer with the Autorité des Marchés Financiers for all remaining outstanding shares of Naturex.

Frutarom completes acquisition of majority stake in Bremil

31 May 2018 --- Frutarom is continuing its momentum of acquisitions this year, with the announcement that it has completed the transaction for the purchase of 51 percent of the shares of the Brazilian company Bremil Indústria Ltda. Bremil is a Brazilian producer of savory solutions and the deal is worth approximately US$30 million (BRL111 million) which includes estimated asset adjustments before the date of completion.

Frutarom reports “record-breaking” quarter amid IFF merger plans

30 May 2018 --- As Frutarom strides forward with its growth strategy, the Israel-based flavor and fragrance specialist has reported another record quarter with double-digit growth in sales and profits alongside improved margins. The first quarter 2018 results come when Frutarom is in the midst of being merged into International Flavors & Fragrance Inc (IFF) which recently agreed to acquire Frutarom in a cash and stock transaction valued at approximately US$7.1 billion, including the assumption of Frutarom’s net debt. The deal will create a “global leader” in the flavors, fragrances and specialty fine ingredients for health and nutrition field, according to both companies.

Private label taste innovation: Symrise targets natural and sustainability platforms

30 May 2018 --- Flavor supplier Symrise is eyeing new opportunity in the rapidly diversifying private label sector as it looks to address consumer demands and evolve towards a taste rather than mere flavor approach under the “code of nature” platform. This strategy builds on four pillars: transparency, best natural, technology, and consumer value.

Weekly Digest: Calls to end wasteful EU overfishing, Russian spice blends trend in World Cup run-up

25 May 2018 --- This week, nine global ocean conservation leaders urged the European Commissioner for the Environment, Maritime Affairs and Fisheries, Karmenu Vella, to use his “power, position, and responsibility” to end destructive and wasteful EU overfishing, ahead of the 2020 Common Fisheries Policy (CFP) deadline. Meanwhile, EHL Ingredients launched a new Russian herb and spice blend in the run-up to the 2018 FIFA World Cup tournament in Russia this summer. The latest export statistics from the Food and Drink Federation (FDF) revealed that Q1 2018 exports of food and drink have grown by 5.5 percent to £5.2bn (US$6.9bn), from £5.0bn (US$6.6bn) in Q1 2017. Elsewhere, the Hochdorf Group has signed an agreement to acquire Bimbosan AG in Welschenrohr, Switzerland and Stern-Wywiol Gruppe presented the cornerstones of its success at an International Sales Network Event in Hamburg.

IFF CEO on Frutarom buy: Access to a broader middle market minimizes supplier exposure

22 May 2018 --- Andreas Fibig, CEO of International Flavors & Fragrances (IFF), has identified the broad base of small and medium-sized customers as a key benefit in acquiring Frutarom in a “transformational move” for the company. A base of 30,000 customers from the legacy Frutarom business compared to just 3,000 for the much larger New York-headquartered company, could provide an opportunity to replicate IFF’s Tastepoint model that has proved to be successful in meeting the needs of small and medium businesses in the US since its inception last summer.

Vying for the top spot: IFF’s takeover of Frutarom shakes up flavors industry

09 May 2018 --- As the dust settles on the International Flavors & Fragrances (IFF) and Frutarom US$7.1bn deal, all eyes are on the flavors and fragrances industry as the takeover is expected to shake up the sector when the company goes up against current market leader Givaudan.

IFF to buy Frutarom in US$7.1bn deal, seeks to create a global leader in taste, scent and nutrition

07 May 2018 --- International Flavors & Fragrances Inc. (IFF) has agreed to acquire Israeli flavors and ingredients company Frutarom in a cash and stock transaction valued at approximately US$7.1 billion, including the assumption of Frutarom’s net debt. By combining with Frutarom, IFF is seeking to accelerate its Vision 2020 strategy to create a global leader in natural taste, scent and nutrition, as 75 percent of Frutarom’s sales are natural.

The future of start-ups: Frutarom opens Israeli lab

27 Apr 2018 --- Frutarom is opening FoodNxt, an innovation lab for food-tech start-ups, in the north of Israel. The company is inviting Israeli food-tech and ingredient companies to collaborate and develop all-natural ingredient solutions for the global food and beverage industry. More than 80 food-tech start-ups are based in Israel, with a rapid double-digit growth rate expected by 2020.

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