IFF Completes Acquisition of Health Wright Products

Rhea-AI Summary

IFF (NYSE: IFF) has finalized its acquisition of Health Wright Products (HWP), a prominent player in dietary supplement formulation and manufacturing. Known for high-quality nutritional supplements, HWP will enhance IFF's Health & Biosciences division, focusing on probiotic products. The acquisition will retain HWP’s workforce of over 225 employees, and IFF plans to expand HWP's capabilities to meet customer demands. Financial terms of the deal remain undisclosed. This strategic move aims to strengthen IFF’s market position in health and nutrition.

Positive

• Acquisition of HWP strengthens IFF's position in the dietary supplement market.
• HWP's expertise in high-quality formulations complements IFF's Health & Biosciences division.
• Retention of HWP's workforce ensures continuity and expertise post-acquisition.
• Plans for capacity expansion indicate future revenue growth potential.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) today announced that it has completed the previously announced acquisition of Health Wright Products, LLC (HWP), a leader in formulation and capsule manufacturing for the dietary supplement industry and a long-time business partner of IFF’s Health & Biosciences probiotics business.

HWP is known in the consumer Health and Nutrition industries for providing the highest-quality nutritional supplements. Using state-of-the-art processes and equipment, HWP manufactures custom formulations and delivers encapsulation and packaging to meet the industries’ exacting requirements for probiotic products. Under IFF’s leadership, HWP will continue to invest in capacity and expand capabilities to meet the evolving needs of customers and consumers.

Health Wright Products employs over 225 people, all of whom will continue with the company after the sale. Financial terms of the deal have not been disclosed.

Cautionary Statement under the Private Securities Litigation Reform Act of 1995

This press release contains “forward-looking statement” within the meaning of the federal securities laws, including Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,” similar expressions, and variations or negatives of these words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the proposed transaction and the expected timetable for completing the proposed transaction. The forward-looking statements included in this release are made only as of the date hereof, and we undertake no obligation to update the forward-looking statement to reflect subsequent events or circumstances.

About Health Wright Products, LLC.

At Health Wright Products, a contract manufacture of dietary supplements, Quality, Service and Value have been the driving principles in our commitment to exceeding customers’ expectations. We partner with brands committed to the same driving principles for themselves and their customers. As an industry leader, we leverage innovation, technology, experience and capacity to offer better solutions to current and emerging products. Providing better health by Encapsulating Excellence. Learn more at healthwrightproducts.com

About IFF’s Health & Biosciences division

Inspired by nature and distinguished by its world-class bioscience and microbiome capabilities, IFF’s Health & Biosciences division is a leading innovation partner for customers across a broad range of consumer product, industrial and agricultural sectors. IFF’s Health & Biosciences division works closely with our customers to enhance products – and their processes – to deliver safer, healthier and more sustainable solutions.

Welcome to IFF

At IFF (NYSE: IFF), an industry leader in food, beverage, health, biosciences and scent, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com, Twitter, Facebook, Instagram, and LinkedIn.

© 2022 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220404005789/en/

Michael DeVeau

Chief Investor Relations & Communications Officer

+1.212.708.7164

Michael.DeVeau@iff.com

Source: IFF

FAQ

What is the significance of IFF's acquisition of Health Wright Products (HWP)?

The acquisition enhances IFF's capabilities in the dietary supplement market, particularly in probiotic products.

What are Health Wright Products known for in the industry?

HWP specializes in high-quality formulation and capsule manufacturing for dietary supplements.

How many employees will remain with Health Wright Products after the acquisition?

All 225 employees of HWP will continue with the company post-acquisition.

What are the financial terms of the IFF and HWP acquisition?

The financial terms of the deal have not been disclosed.

What future plans does IFF have for Health Wright Products?

IFF plans to invest in HWP’s capacity and expand capabilities to meet evolving customer needs.