International Flavors & Fragrances (IFF) has announced that it is set to acquire Fragrance Resources.

Financial terms of the deal have not been disclosed, but the deal is expected tp add approximately US$75 in revenue and be modestly EPS accretive in 2017. Completion is anticipated in January, 2017, subject to antitrust approval.

“IFF’s Vision 2020 business strategy is well-served with this highly-complementary bolt-on acquisition, helping us to win where we compete in key fragrance markets and categories as we look to accelerate growth,” said IFF Chairman and CEO Andreas Fibig. “With our shared values and a passion for our people, products, and customers, Fragrance Resources will be a strong addition to IFF.”

Nicolas Mirzayantz, Group President, Fragrances, added, “Since 1987, the Fragrance Resources team has been a key player in faster-growing specialty fine fragrances – an important growth category. The addition of this outstanding company into the IFF family will help us strengthen our position in strategic areas and further penetrate the critical and accelerating regional customer base that we see as the engine of growth. We look forward to welcoming the Fragrance Resources family into ours.”