Basham Ringe & Correa has assisted Frutarom, in its acquisition by International Flavors & Fragrances, the fourth-largest flavor and fragrance maker. The $7.1bn transaction was completed on October 3rd and included the jurisdictions of the United States, Israel, Mexico, Rusia, South Africa, Turkey and Ukraine.
Frutarom Industries, an Israeli-based company, specializes in the production and distribution of fragrances. Frutarom’s $1.6bn in projected sales this year will bring IFF’s sales to $5.3bn.
The antitrust team of the firm, led by partner Amilcar Peredo, carried out the pre-merger filing with the Mexican Competition Commission, as well as obtaining clearance for its acquisition.
Wachtell, Lipton, Rosen & Katz carried out the filings in all jurisdictions on behalf of Frutarom and Slaughter and May in Europe, while Cleary, Gottlieb, Steen & Hamilton acted for IFF.