International Flavors & Fragrances (IFF) aims to strengthen its innovation capabilities for scent, taste and ingredients through the acquisition of The Additive Advantage (TAA).
Founded in 2006, TAA is a manufacturing and licensing company focusing on microencapsulation. It has a research laboratory, engineering facility and sales office in North Reading, Massachusetts.
IFF said the firm “has the expertise to develop the next-generation delivery systems technology platform that will enable the printing of flavours, fragrances, cosmetic and health and nutrition actives onto a variety of consumer products”.
Andreas Fibig, IFF CEO, said: “The acquisition of TAA helps to expand our large portfolio of offerings to customers in a truly unique way – through print technology.
“With the expertise that this talented group of people brings under our roof, we envision taking delivery systems to a completely new level and ultimately enriching how consumers experience our customers’ products.”
IFF chief sustainability officer Gregory Yep added: “We are genuinely excited to welcome our new colleagues to the IFF R&D family. This is the type of technology that cuts across all our business units and spurs innovation across the company – creating excitement for our teams and for our customers.”
New York-headquartered IFF has more than 110 manufacturing facilities and 100 research and development centres globally.
Last year, the firm agreed a deal to acquire Israeli flavours rival Frutarom for $7.1 billion, creating what it claimed would be the largest natural flavours and ingredients company in the world with combined revenues of $5.3 billion.
In its full-year results published last week, IFF recorded a 17% rise in net sales to $3.98 billion.
© FoodBev Media Ltd 2019