Feb. 1, 2021 – IFF to complete the previously announced merger of IFF and DuPontâs Nutrition & Biosciences (âN&Bâ) business, pursuant to a Reverse Morris Trust transaction today. The combined company will continue to operate under the name IFF. Shares of the combined companyâs common stock will trade on the New York Stock Exchange under the symbol âIFF.â
âWe are thrilled to officially unite IFF and N&B, forging a leader in the global consumer goods and commercial products value chain that will redefine our industry and create a leading ingredients and solutions provider for our customers across a broad range of end-markets,â saidÂ Andreas Fibig, IFF Chairman and Chief Executive Officer.
âOur organizations have deep histories of creativity, innovation excellence and a shared commitment to care for our communities. With our combined platform, IFF is an essential partner for our customers, uniquely positioning us to address our customersâ evolving needs, unlock long-term value creation and accelerate our pursuit of new, creative and integrated solutions.
Through an unprecedented last 12 months, both the IFF and N&B teams have remained incredibly focused on executing our respective business plans and setting the foundation to bring this combination to life. I welcome our new N&B colleagues to the IFF family, and I look forward to working with Ed as we continue our integration efforts and focus on driving long-term, sustainable growth.â
âIâm extremely proud of what our teams have accomplished to complete the transaction on time despite a year of unprecedented challenges.
Andreas and the combined management team have planned and prepared for this integration and are committed to delivering for all stakeholders,â saidÂ Ed Breen, DuPont Executive Chairman and Chief Executive Officer, who joins the IFF Board of Directors and will become Lead Independent Director effective at the 2021 annual meeting of shareholders.
âAs a global industry leader of highly valued consumer ingredients, the new IFF is well-positioned to deliver growth and to unlock long-term value for shareholders, customers and employees. I also want to salute our N&B colleagues for their contributions to DuPont and wish them success in the years ahead.â