IFF Acquires PowderPure to Further Expand Expertise, Offerings, for Clean Label Solutions that Satisfy Consumer Demands
April 10 2017 - 04:15PM
Business Wire
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.
Forward-Looking Statements
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.
Meet IFF
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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version on businesswire.com: http://www.businesswire.com/news/home/20170410006162/en/
International Flavors & Fragrances Inc.Michael DeVeau,
212-708-7164VP, Global Corporate Communications & Investor
RelationsMichael.DeVeau@iff.com
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