International Flavors & Fragrances to buy Israel’s Frutarom for $7.1 billion

International Flavors & Fragrances to buy Israel’s Frutarom for $7.1 billion

International Flavors & Fragrances (NYSE:IFF) agreed to buy Israeli flavors and ingredients maker Frutarom (LSE: FRUT, TASE: FRUT) for $7.1 billion in cash and stock on Monday, vying for the industry’s top spot with market leader Givaudan. The flavors and fragrances sector was expected to consolidate after Geneva-based Givaudan said in March it planned to launch an offer for French natural ingredients firm Naturex and Israeli media reported last month that Frutarom had attracted takeover…

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