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IFF uncovers a problem with its Frutarom acquisition
by Michael McCoy
August 10, 2019
| A version of this story appeared in
Volume 97, Issue 32
International Flavors & Fragrances has uncovered a hitch in its $7.1 billion acquisition of the flavor ingredient maker Frutarom. In its second-quarter earnings report, IFF revealed that it has become aware of allegations that two Frutarom businesses operating mainly in Russia and Ukraine made improper payments to representatives of some customers. It says it doesn’t believe the impact will be material to its financial condition. Still, the firm’s stock price dropped almost 15% on the news.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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