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Stock impact report

IFF eyeing acquisitions again as it sells off pharma unit—but no more ‘Frutaroms' [Yahoo! Finance]

International Flavors & Fragrances, Inc. (IFF) 
Last international flavors & fragrances, inc. earnings: 2/12 04:15 pm Check Earnings Report
US:NYSE Investor Relations: ir.iff.com
Company Research Source: Yahoo! Finance
Chemicals giant International Flavors & Fragrances is shifting focus back to expansion after years of digesting earlier corporate transactions. On a call with Wall Street analysts after the Fortune 500 company reported its 2024 results, CEO Erik Fyrwald made it clear that acquisitions were back on the table—but with a more disciplined approach. Revisiting M&A—but no more 'Frutaroms' New York City-based IFF, which creates flavors, fragrances, and specialty ingredients used in food, beverages, personal care, and pharmaceuticals, has a checkered history with acquisitions. Many on Wall Street said the company overpaid in its purchase of Frutarom and its merger with DuPont's Nutrition & Biosciences division in 2018 and 2019. The $7.1 billion Frutarom deal, in particular, proved problematic after IFF uncovered what it said were improper payments by the Israeli company's executives in Russia and Ukraine, leading to a lawsuit against Frutarom's CEO. Fyrwald sought to assure investo Show less Read more
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