Flavors & fragrances giant IFF strikes deal to acquire Henry H. Ottens Manufacturing Co
New York based International Flavors & Fragrances (IFF) has struck a deal to acquire privately-held flavor firm Henry H. Ottens Manufacturing Co in Philadelphia, PA, for an undisclosed sum.
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.
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