International Flavors & Fragrances will acquire the David Michael Company, expecting to add approximately $85 million in revenue to 2017 for IFF. While the financial terms have not been disclosed, the completion of the transaction is subject to clearance by the regulatory authorities and satisfaction of other customary closing conditions. The closing is expected to occur in the fourth quarter of 2016.
The David Michael Company is a privately-owned company that is known for its strength in the dairy and beverage categories, its relationships with the middle-market customers and its vanilla expertise.
Matthias Haeni, group president of IFF, said, “For three generations, David Michael has been a vital player in the industry, building an outstanding portfolio of capabilities and customer relationships. Merging and leveraging the strengths of both IFF-Ottens Flavors, acquired in 2015, and David Michael, we look to further reinforce our differentiated service model in the US for middle-market customers, focused on innovation, agility, and enhanced collaboration. The unique go-to-market platform is fueled by technologies that spark the senses and transform the everyday.”