Ottens Flavors’ customer base includes a strong portfolio of key US-based accounts, which complements IFF’s portfolio, said IFF Chairman and CEO Andreas Fibig.
“This acquisition is an exciting one as it’s the first step in our redefined strategy to win where we compete. IFF and Ottens Flavors share rich histories, world-class capabilities, and a strong commitment to innovation.”
The transaction, which is expected to close in the second quarter of 2015, is expected to add approximately $60m in revenue on an annualized basis.