IFF Completes Buyout of Remaining Shares of Wiberg Corporation
NEW YORK–(BUSINESS WIRE)– Regulatory News:
International Flavors & Fragrances Inc. (NYSE: IFF) (Euronext Paris: IFF) (TASE: IFF), has completed the buyout of the remaining 50% of the outstanding shares of Wiberg Corporation Inc., located in Oakville, Ontario, Canada.
Wiberg Corporation, a subsidiary of Wiberg GmbH (based in Austria), specializes in savory solutions like seasoning blends, spices and functional ingredients for the food industry as well as food processing equipment. It focuses on processed meats and convenience foods, as well as on innovative culinary solutions for food service, restaurants, catering firms and chefs. Wiberg GmbH was acquired by Frutarom in 2015, which included a 50% holding in its Canadian subsidiary. Wiberg is part of IFF’s Savory Solutions group and the Canadian subsidiary services customers across Canada and parts of the US. In addition to Oakville, Wiberg Corporation has offices in Vancouver, British Columbia, Canada and Los Angeles, California, US.
The completion of the outstanding share buyout means that Wiberg Corporation is now fully part of the IFF family of companies and able to expand offerings to their customers by leveraging IFF products and technologies. The completion supports IFF’s goal to grow its savory solutions market leadership globally.
Wiberg Corporation’s President Richard Welzel and its management team will continue in their leadership roles of the company.
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Meet IFF
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) (TASE: IFF) is a leading innovator of scent, taste, and nutrition, with 97 manufacturing facilities, 105 R&D centers, and 39,000 customers globally. 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 experience in more than 90,000 unique products sold annually. Our 13,000 team members globally take advantage of leading consumer insights, naturals exploration, 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.
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Contacts
Michael DeVeau
Head of Investor Relations and Communications & Divisional CFO, Scent
212.708.7164
Michael.DeVeau@iff.com