IFF Completes Buyout of Remaining Shares of Wiberg Corporation
June 03 2019 - 06:55AM
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
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Michael DeVeauHead of Investor Relations and Communications
& Divisional CFO, Scent212.708.7164Michael.DeVeau@iff.com