TFF completes merger with FFG Industries

Related tags Flavor Stock Tff

Consolidation in the flavor industry evident as US flavor house
Technology Flavors & Fragrances announces its merger with
fellow flavor firm FFG Industries.

Executed at the beginning of this month, FFG paid $1.55 per share in cash for all issued and outstanding TFF common stock.

Founded in 1989, the merger ends 'strategic alternatives' raised by the Amityville-based TFF​ at the end of 2004, which included joint ventures, acquisitions or mergers.

Commenting at the time, Philip Rosner, CEO of TFF said: "TFF has always made the interests of its shareholders its top priority. The Board and members of senior management have concluded that now is the time to attempt to leverage our position to protect and maximize shareholder value."

With facilities in Amityville, Inglewood, Toronto, and Santiago TFF supplies flavors and fragrances for a wide variety of consumer and institutional products, including natural and artificial flavored beverages, foods and personal care products.

Its library of proprietary product formulations was recently 'independently appraised at $24.5 million by Daley-Hodkin Group', the firm said recently.

Flavor firm FFG Industries, a private company formed in partnership between management and Nautic Partners, has plants in Upper Saddle River and Branchburg, New Jersey, Rancho Santa Margarita, California, Columbus, Indiana and Canton, Georgia.

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