IFF completes acquisition of remaining stake in Wiberg

International Flavors & Fragrances (IFF) has completed the acquisition of the remaining 50% of outstanding shares in Wiberg Corporation.

Financial details of the deal have not been divulged.

Located in Oakville, Ontario, Canada, Wiberg Corporation is a subsidiary of Austria-based Wiberg, which specialises in the production of savoury solutions such as seasoning blends, spices and functional ingredients for the food industry, as well as food processing equipment.

It primarily focuses on processed meats and convenience foods, as well as on culinary solutions for food service, restaurants, catering firms and chefs.

With the purchase of the remaining outstanding shares, Wiberg has become part of IFF’s Savory Solutions group.

Weiberg will be able to expand its portfolio by leveraging IFF products and technologies.

Additionally, the acquisition will support IFF’s goal of expanding its presence in the savoury solutions market.

As per the terms of the deal, Wiberg president Richard Welzel and its management team will continue in their roles at the company.

In addition to Oakville, Wiberg has offices in Vancouver, Canada, and Los Angeles in the US.

In 2015, Frutarom acquired Wiberg, which included a 50% stake in its Canadian subsidiary.

Last October, IFF completed its acquisition of Israeli firm Frutarom in a $7.1bn deal.

The acquisition provided opportunities to expand into new and fast-growing categories such as savoury solutions, natural colours, natural food protection and healthy ingredients.