Lanxess has signed a corresponding agreement to acquire the microbial control business of International Flavors & Fragrances (IFF) for $1.3 billion or 9.6x EBITA. The deal should be completed in Q2 2022, following a carve-out process and subject to regulatory approvals. This is the firm’s second largest ever buy, just ahead of the recently completed acquisition of Emerald Kalama.
Givaudan, the world’s largest flavours and fragrances (F&F) house, today completed the acquisition of Ungerer & Company, which was originally announced in November 2019. Terms were not disclosed, but Givaudan said that the newly acquired business would have represented about $250 million of incremental sales in 2019 on a pro forma basis.