International Flavors & Fragrances (IFF)

Profile

Exchange: NYSE       Sector: Basic Materials       Industry: Specialty Chemicals

International Flavors & Fragrances is a major producer of flavors and fragrances with sales of $2.6 billion in 2010. Major competitors include Firmenich, Givaudan, and Symrise. IFF is a member of the S&P 500. The company operates through two segments: Flavors and Fragrances. The Flavors segment is engaged in the manufacturing of perfumes, cosmetics, personal care products, hair care products, deodorants, soaps, detergents, fabric and air care products. The Flavor products are sold principally in to the food and beverage industries. The Fragrances segment involves in the manufacturing of prepared foods, beverages, pharmaceuticals, dairy and confectionery products as wells as the food services industry. The Fragrances products are used by customers in the manufacture of various consumer goods in the home and personal care markets. IFF was founded in 1958 by the merger between the worldwide operations of Polak & Schwarz and van Ameringen-Haebler. A.L. van Ameringen had immigrated to the U.S. in 1917 to work for Polak & Schwarz before leaving to open his own business, later to become Ameringen-Haebler in 1929. IFF predecessor Polak & Schwarz was formed in 1889 by Joseph Polak and Leopold Schwarz in the small Dutch town of Zutphen to process concentrated fruit juices. The company is headquartered in New York, NY.