IFF Acquires Major Stake in Leagel
13 March 2019 - 8:15PM
Business Wire
Regulatory News:
International Flavors & Fragrances Inc. (NYSE: IFF)
(Euronext Paris: IFF) (TASE: IFF) announced today that its Frutarom
division has completed the acquisition of a 70% stake in Leagel
S.r.l. (“Leagel”), a leading producer of ice cream and gelato
ingredients in Europe. A family-owned company based in San Marino,
Italy, Leagel specializes in artisanal taste, texture and toppings
sold directly to ice cream and gelato shops.
“The purchase of the stake in Leagel aligns well with our
strategic acquisition in 2017 of SDFLC Brasil Indústria E Comércio
Ltda. ("SDFLC"), a top Brazilian producer of taste solutions for
ice creams and desserts,” said Amos Anatot, President of IFF's
Frutarom Division. “We see great opportunities to combine these
companies and create a global platform for our ice cream
ingredients business, expand our geographic reach and leverage
cross-selling opportunities.”
Leagel has 61 employees serving 1600 direct customers and
distributors, with a geographic reach that includes 25 countries in
Europe. The Company’s portfolio includes a wide spectrum of
offerings, from individual artisanal ingredients to a full suite of
products and equipment for the gelato and ice cream retailer. IFF
retains an option for the residual 30% stake in Leagel to be
exercised after three years.
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Meet IFF
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext
Paris: IFF) (TASE: IFF) is a leading innovator of scent, taste, and
nutrition, with 97 manufacturing facilities, 105 R&D centers,
and 39,000 customers globally. 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 experience in more than 90,000 unique products sold
annually. Our 13,000 team members globally take advantage of
leading consumer insights, naturals exploration, 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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International Flavors & Fragrances Inc.Michael
DeVeauHead of Investor Relations and Communications &
Divisional CFO, Scent212.708.7164Michael.DeVeau@iff.com