THE WHAT? Phoenix Flavors & Fragrances has announced the acquisition of Innovative Fragrances Inc.
THE DETAILS Terms of the deal were not disclosed. Phoenix Flavors and Fragrances said that the purchase of the Atlanta-based fragrance firm aligned with its mission to create a market-leading developer of high-performance flavors and fragrances.
THE WHY? Jim Unrath, President of Phoenix Flavors and Fragrances, explains, “We are extremely pleased to complete the acquisition of IFI, believing it represents a highly complementary business with shared values and vision as a technical expert in the creation of fine fragrance compounds with a strong team of perfumers, salespeople, customer service representatives and stringent QA/QC – all of which is leveraged to create a high-service business model with the utmost emphasis on meeting and exceeding the technical, quality and regulatory requirements of customers. We look forward to partnering with the IFI team as we enhance the value we bring to existing and new customers.”