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IFF uncovers a problem with its Frutarom acquisition

by Michael McCoy
August 10, 2019 | 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.

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