In this week’s news, learn the details of the new $26.2 billion merger of IFF and DuPont’s Nutrition & Biosciences business. Take a look at what this takeover means to the market and which sectors the IFF is likely to expand.
IFF merger with DuPont’s Nutrition & Biosciences business
IFF to complete $26.2B merger with DuPont’s Nutrition & Biosciences business. The combined company will continue to operate under the name IFF.
International Flavors & Fragrances in an american corporation producing and marketing flavours and fragrances with facilities in 44 countries around the world. The revenue was $5,140,084 million in 2019. DuPont, is an american chemical company, one of the largest in terms of sales. The combination of IFF and N&B creates a global leader in high-value ingredients and solutions for the Food & Beverage, Home & Personal Care and Health & Wellness markets, with estimated 2020 pro forma revenue of more than $11 billion and EBITDA of approximately $2.5 billion, excluding synergies. The complementary portfolios give the company leadership positions within the Taste, Texture, Scent, Nutrition, Enzymes, Cultures, Soy Proteins and Probiotics ingredient categories.
“We are thrilled to officially unite IFF and N&B, forging a leader in the global consumer goods and commercial products value chain that will redefine our industry and create a leading ingredients and solutions provider for our customers across a broad range of end-markets,” said Andreas Fibig, IFF Chairman and Chief Executive Officer.
As a result of the completion of the transaction, DuPont received a one-time $7.3 billion cash payment, subject to adjustment. Effective at transaction close, DuPont shareholders own 55.4% of the combined company and IFF’s shareholders own 44.6%.