IFF buys Frutarom in US$7.1bn deal: In the most important supplier business deal of the year, International Flavors & Fragrances Inc. (IFF) agreed to acquire Israeli flavors and ingredients company Frutarom in a deal valued at approximately US$7.1 billion. By combining with Frutarom, IFF is seeking to accelerate its Vision 2020 strategy to create a global leader in natural taste, scent and nutrition, as 75 percent of Frutarom’s sales are natural. The deal follows a series of acquisitions from Frutarom throughout last year, marking significant growth for the flavors and fragrances specialists. The massive deal was already sealed in October 2018. In a detailed interview about the move, CEO Andreas Fibig, identified the broad base of small and medium-sized customers as a key benefit in acquiring Frutarom in a “transformational move” for the company.
2020 has been a year like no other. As we turn the corner into the promise of 2021, FoodIngredientsFirst takes a look back on the top 20 ingredient highlights of the past year. From the early days of COVID-19 impacting supply chains, and companies scrambling to cope, to the evolution of plant-based NPD – 2020 was marked with some significant industry stories....View More
Held in Nuremberg, Germany, Biofach 2020 (February 12 to 15, 2020) attracted numerous manufacturers, traders and industry stakeholders active in the burgeoning space for organic produce. Key themes at the show included novel plant-based food and beverage varieties, “future-proof” organic breeding practices, eco-centric sourcing and emergent hero ingredients.
A bountiful, colorful range of sweets and snacks were presented to thousands of industry professionals at ISM and Prosweets 2020 (Feb 2 to 5) in Cologne, Germany, last week. Key themes included healthy ingredients and naturalness, while diverse flavor combos and ingredient hybrids were also high on the agenda. Meanwhile, the growing significance of brand storytelling was also...View More
Cultured meat, plant-based innovation and alternative proteins were major themes running throughout 2019. Global consumers are increasingly aware of both the health and environmental impacts of the food and beverages they consume. Plant-based innovation has seen an abundance over the year, as industry giants such as Nestlé and Givaudan, alongside smaller start-up...View More