IFF Acquires PowderPure to Further Expand Expertise, Offerings, for Clean Label Solutions that Satisfy Consumer Demands
NEW YORK--(BUSINESS WIRE)--Apr. 10, 2017-- Regulatory News:
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris:IFF), a leading innovator of sensory experiences that move the world, today announced that it had acquired Columbia Phytotechnology LLC, a/k/a PowderPure on April 7, 2017.
Founded in the early 2000s and based in Oregon, PowderPure utilizes its patented Infidri™ drying technology to create all-natural food ingredients by eliminating water while leaving the taste, nutrition and color matrix intact. Using minimal processing, PowderPure currently focuses on whole fruits and vegetable powders, juice powders, as well as other specialty products. PowderPure’s technology has also been used to effectively repurpose valuable materials resulting from other food processing systems, turning them into useful and nutritious products and saving them from waste streams.
“With innovation and the pioneering spirit an integral part of the IFF story, this acquisition represents another exciting chapter for us, as it fortifies our industry-leading naturals platform to meet consumers' growing demand for natural and clean label products,” said IFF Chairman and CEO
Andreas Fibig. Mr. Fibig continued, “We are impressed with PowderPure’s commitment to innovation and believe that together, we are uniquely positioned to spark further discoveries.”
Matthias Haeni, Group President, Flavors added, “IFF’s focus on creating natural sustainable solutions for our customers is woven into everything we do. We are excited to work with PowderPure and leverage their fantastic technologies to create minimally processed products from natural ingredients. PowderPure will be a great addition to the IFF family.”
Financial terms of the deal have not been disclosed.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements containing the words such as “anticipate,” “approximate,” “believe,” “plan,” “estimate,” “expect,” “project,” “could,” “should,” “will,” “intend,” “may” and other similar expressions, are forward-looking statements.
Risks and uncertainties related to IFF’s acquisition of PowderPure include, but are not limited to, uncertainties as to whether the acquisition will have the accretive effect on IFF’s earnings or cash flows that it expects, the inability to obtain, or delays in obtaining, cost savings and synergies from the acquisition, costs and difficulties related to the integration of PowderPure’s businesses and operations with IFF’s businesses and operations, unexpected costs, liabilities, charges or expenses resulting from the acquisition, adverse effects on IFF’s stock price resulting from the acquisition, the inability to retain key personnel, and potential adverse reactions, changes to business relationships or competitive responses resulting from the acquisition.
In addition to the factors set forth above, other factors that may affect IFF’s plans, results or stock price are set forth in IFF’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Many of these factors are beyond IFF’s control and IFF cautions investors that any forward-looking statements made by IFF are not guarantees of future performance. IFF disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements to reflect future events or developments.
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris:IFF) is a leading innovator of sensorial experiences that move the world. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what if?”. That passion for exploration drives us to co-create unique products that consumers taste, smell, or feel in fine fragrances and beauty, detergents and household goods, as well as beloved foods and beverages. Our 7,300 team members globally take advantage of leading consumer insights, research and development, creative expertise, and customer intimacy to develop differentiated offerings for consumer products. Learn more at www.iff.com, Twitter, Facebook, Instagram, and LinkedIn.
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Source: International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc.
Michael DeVeau, 212-708-7164
VP, Global Corporate Communications & Investor Relations