Combination will create global ingredients and solutions serving consumer-oriented food and beverage, home and personal care, and health and wellness end markets.
IFF is set to complete the previously announced merger of IFF and DuPont’s Nutrition & Biosciences (N&B) business. The combined company will continue to operate under the name IFF.
Andreas Fibig, chairman and CEO for IFF, said: “With our combined platform, IFF is an essential partner for our customers, positioning us to address our customers’ evolving needs, unlocking long-term value creation and accelerate our pursuit of new, creative and integrated solutions. Through an unprecedented last 12 months, both the IFF and N&B teams have remained focused on executing our respective business plans and setting the foundation to bring this combination to life.”
Ed Breen, executive chairman and CEO of DuPont, will join the IFF board of directors, and will become lead independent director effective at the 2021 annual meeting of shareholders. He concluded: “Andreas and the combined management team have planned and prepared for this integration, and are committed to delivering for all stakeholders. As a global industry leader of consumer ingredients, the new IFF is well-positioned to deliver growth and to unlock long-term value for shareholders, customers and employees.”