IFF
This article was originally published in The Rose Sheet
Executive Summary
Bush Boake Allen acquisition leads to 14.4% sales increase in fourth quarter and 1.4% sales growth for year, International Flavors & Fragrances says. Consolidated Q4 sales totaled $384.5 mil. and annual sales were $1.46 bil., while sales excluding the BBA acquisition were $318.6 mil. for the quarter, a decline of 5%, and $1.4 bil. for the year, a loss of 3%. IFF announced it would acquire BBA in September (1"The Rose Sheet" Oct. 2, 2000, p. 11). Fragrance sales were led by Europe, Africa and the Middle East and North America with 15% and 7% gains, respectively. In the fourth quarter, the company recorded a $24.2 mil. charge related to integration of BBA and a restructuring initiative separating the flavors and fragrances businesses (2"The Rose Sheet" Oct. 9, 2000, p. 5). Total restructuring cost will be $90 mil.-$100 mil. through mid-2002, company says