Accelerating Transformation: IFF Completes DuPont Mega-Merger and Unveils New Strategic Brand Identity

IFF has completed its mega-merger with DuPont’s Nutrition & Biosciences (N&B) business. The combined company will continue to operate under the IFF name. Shares of the combined company’s common stock will trade on the New York Stock Exchange under the symbol “IFF.” At the time of the announcement, the deal was positioned as a “pivotal moment” for IFF’s ambitions to expand beyond flavors.

As part of its new brand identity, IFF has also launched a new tagline, purpose, brand commitments, and cultural attributes and values. The company believes that these brand components will support the success of the four divisions that now comprise the new IFF: Taste, Food & Beverage, Scent, Health & Biosciences, and Pharma Solutions.

Under the terms of the transaction, which was previously announced on December 15, 2019, and received approval from IFF shareholders on August 27, 2020, the combination was executed through a Reverse Morris Trust transaction.  As a result of the completion of the deals, DuPont received a one-time US$7.3 billion cash payment.

We 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,” says Andreas Fibig, IFF chairman and CEO.  “With our combined platform, IFF is an essential partner for our customers, uniquely positioning us to address our customers’ evolving needs, unlock long-term value creation and accelerate our pursuit of new, creative, and integrated solutions.”

“I’m extremely proud of what our teams have accomplished to complete the transaction on time despite a year of unprecedented challenges,” says Ed Breen, DuPont executive chairman, and CEO, who joins the IFF board of directors.

IFF’s new brand identity and tagline is: “Where science and creativity meet, captures the company’s long-standing focus on the dynamic interplay between artistry and science to deliver differentiated, integrated solutions to customers that amaze and delight. IFF is a force for good in its communities worldwide, accelerating sustainability-driven change across its industry.”

The IFF brand continues to be underpinned by three commitments, adapted to better reflect the new organization.

  • Question Everything: “We’re here to shake things up and forge a new path. We’re working at the cutting edge of artistry and science and encourage discoveries at every opportunity.”
  • Champion Creators: “We believe our differences make us great. We power companies of every shape, size, and style with the ingredients, solutions, and passion for converting ideas into impact.”
  • Do More Good: “Claiming perfection doesn’t help. We’re on a journey to do better for people and the planet. Every day we bring the talent, influence, and responsibility to challenge the status quo constantly.”

Source: Foodingredientsfirst.com

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