More mergers or acquisitions may be on the horizon for International Flavors & Fragrances Inc., chief executive officer Andreas Fibig said on the company’s earnings call Tuesday.

“Our M&A pipeline so far is pretty well filled,” Fibig said. “We have made great progress in identifying the right targets,” he said, adding that some options would be bolt-on sized, while others would be larger acquisitions.

At the same time, Fibig made it clear that the company is in no rush to buy. “You really have to work through this pipeline…what is the real value of these assets, and do they make sense from a strategic point of view,” he said. “We’re certainly not under pressure.”

IFF has made several recent acquisitions. In June 2015, the company made a deal for Lucas Meyer Cosmetics, a business that develops ingredients for the cosmetics and personal care industry. That deal was part of IFF’s strategy to strengthen and expand its portfolio, Fibig said at the time. In July, that business unit invested in Canadian research and development laboratory Bio ForeXtra in July, aiming to up its access to cosmetic ingredients. “We entered into this business because we believe that we have great top line synergies here,” Fibig said Tuesday.

The company also made an acquisition on the flavors side, of Henry H. Ottens Manufacturing Co. Inc. in April 2015.

IFF reported earnings for the quarter ended June 30 on Monday evening, with gains in both sales in income. Net income for the quarter rose 11 percent to $116.7 million, while diluted earnings per share were up 13 percent to $1.46, year-over-year, versus analyst consensus for $1.41. Net sales for the quarter were up 3 percent from the prior-year period, to $793.5 million. Operating profit gained 11 percent to $164.5 million from the prior-year period.

IFF’s fragrances business grew sales by 5 percent, to $414 million, with a 10 percent profit increase, to $87.6 million versus the year-ago period. Consumer fragrances gained 4 percent, partially from a double-digit increase in personal wash with contributions from fabric and home care. Greater Asia posted double-digit growth, and North America posted single-digit growth, according to the company. Fragrance ingredients was up 15 percent, including sales related to the Lucas Meyer deal.

For the full year, IFF forecasts a 1.5 to 2.5 percent increase in sales; 2 to 4 percent gain in profit and 4.5 to 6.5 percent increase in earnings per share.

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