As the clean revolution takes root in beauty, fine fragrance is one category where consumers are looking for meaningful transparency when it comes to what’s inside the bottle.
As a combined business, the company expects to have an expanded product portfolio.
Fine fragrance is driving sales in the scent division.
The company is buying a Swedish encapsulation business.
Frutarom businesses in Russia and Ukraine may have made “improper” payments to customers, IFF said in SEC filings.
Scent ingredients were challenged by raw material costs coupled with volume declines, the company said.
The business recently closed a merger with Frutarom that expanded its natural ingredient portfolio.
The company closed the Frutarom merger in early October.
The business plans to take on $3.1 billion in debt for the Frutarom deal.
The $7.1 billion Frutarom merger gives IFF deeper penetration in natural ingredients as well as access to more small and midsize companies.
The company has achieved its goals in water usage, greenhouse gas emissions and hazardous waste.
The business posted a 12 percent net sales increase for the quarter.
Mirzayantz is the president of fragrances for IFF.
The new fragrance ingredients plant in Jiande, China helps further the company’s sustainability goals.
The fragrance manufacturer has opened its newly renovated facility in Cairo, Egypt, on Monday.