IFF to Acquire Health Wright Products
IFF (NYSE: IFF) has announced its agreement to acquire Health Wright Products, LLC (HWP), a prominent player in dietary supplement formulation and capsule manufacturing. HWP, based in Clackamas, Oregon, generated approximately $100 million in revenue in 2021 and employs over 225 people. This acquisition aims to enhance IFF's Health & Biosciences division by integrating HWP's capabilities for custom formulations and packaging, driving innovation in probiotic products. The transaction is expected to close in Q1 2022, pending customary conditions and regulatory approvals.
- Acquisition expected to enhance IFF's capabilities in custom formulations and packaging.
- HWP's $100 million annual revenue and established market presence will strengthen IFF's Health & Biosciences division.
- None.
Founded in 1995, HWP is located in
The acquisition will bring formulation and finished format capabilities to IFF’s Health & Biosciences probiotics, natural extracts and botanicals businesses, allowing for innovation in custom formulation and combination products through joint capabilities.
“Today’s announcement is driven by our commitment to enhance long-term value to our partners and customers. Producing thousands of unique and complex formulations for the industry’s most trusted brands, Health Wright Products formulation and finished format abilities will allow us to develop new and customized solutions and formats for a broad base of customers,” said
“We look forward to joining IFF’s Health & Biosciences division. Health Wright Products best-in-class quality manufacturing and formulation capabilities, combined with the strong biotech innovation pipeline of IFF’s Health & Biosciences, is an exciting proposition for our customers and employees,” said
The sale is expected to close in the first quarter of 2022, subject to customary closing conditions, and regulatory clearances. 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
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 a global 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
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Chief Investor Relations & Communications Officer
212.708.7164
Michael.DeVeau@iff.com
Source: IFF
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