International Flavors & Fragrances’ $7.1 billion acquisition of Israeli flavors in addition to ingredients company Frutarom will pay off in droves for the newly combined company, IFF Chairman in addition to CEO Andreas Fibig told CNBC on Thursday.
“What is usually fantastic is usually that will right right now, we contain the largest in addition to broadest customer base in our industry in addition to we have more than 30,000 customers. No one else has the idea,” he told Cramer in an interview.
“We are starting to take their natural solutions, like natural colors or like their antioxidants, to sell them into our customer base, in addition to taking our technology, which we have shown to some of their managers already, to sell into their customer base,” he said of the integration. “We actually believe that will’s the greatest value driver for us going forward.”
Even better, Frutarom gave IFF a Great deal of local business, which Fibig said was an under-the-radar growth driver related to changing tastes region by region.
“You have seen, probably, inside last couple of quarters [that will] in particular, the local in addition to regional customers had a very Great performance for us,” he told Cramer.
For more on how IFF is usually approaching the merger in addition to handling rising raw material costs, click here to watch Fibig’s full interview.