NEW YORK–(BUSINESS WIRE)– Regulatory News:
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris:IFF), a leading innovator of sensory experiences that move the world, is pleased to announce its supporting partnership with Mars Wrigley Confectionery in their initiative to improve the long-term viability of mint farming in India. The program, called Shubh Mint, is part of AdvanceMint, a larger, global project to advance mint plant science and support mint farmers and their communities. IFF is specifically contributing to the initiative’s “Resilient Communities” pillar by sponsoring a municipal center focused on youth education and women’s empowerment.
“IFF has a track record of partnering to strengthen supply chains and the communities that power them,” said Andreas Fibig, IFF Chairman and CEO. “We are very proud to join with Mars Wrigley Confectionery to support this initiative – and we believe the benefits to the community as a whole will be exponential.”
Despite its ubiquity in scores of flavored products, such as gums, breath fresheners and candies, mint is an often-overlooked crop. Eighty percent of the world’s mint supply is produced in India by about one million smallholder farmers – many of whom depend on mint crops for their income. However, declining crops are putting pressure on already low incomes, putting the farms and their communities at risk.
“Mint is an important crop for our industry,” added Matthias Haeni, Group President, Flavors, “so ensuring a reliable supply chain of high-quality, natural mint is key. Partnering to support these critical smallholder farmers lets us leverage experience IFF gained last year as we worked to strengthen the vetiver supply chain, so, it was an easy lift for us to support hyper-local initiatives like this for the community.”
For the Shubh Mint initiative, IFF is sponsoring a community center through READ India, an arm of READ Global that expanded to India in 2007 to empower women and marginalized groups, and create educational and economic opportunities in rural areas. Through READ India, the Company seeks to empower women in the community with the skills they need to offset the financial pressures caused by challenges to the mint crops. Mr. Fibig delivered IFF’s first sponsorship check to READ in October and the Company has committed to sponsoring two more centers in India.
“We’re thrilled to have IFF join us and our other partners in this exciting initiative. Together, we’re empowering farmers, their families and surrounding communities so that they – and the mint industry – thrive.” – John Buckley Global Category Director Mints & Flavors, Mars Wrigley Confectionery.
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) is a leading innovator of sensorial experiences that move the world. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what if?”. That passion for exploration drives us to co-create unique products that consumers taste, smell, or feel in fine fragrances and beauty, detergents and household goods, as well as beloved foods and beverages. Our 7,400 team members globally take advantage of leading consumer insights, research and development, creative expertise, and customer intimacy to develop differentiated offerings for consumer products. Learn more at www.iff.com, Twitter , Facebook, Instagram, and LinkedIn.
International Flavors & Fragrances Inc.
Michael DeVeau, 212-708-7164
VP, Corporate Strategy, Investor Relations & Communications