CCI approves acquisition of Nutrition & Biosciences, Inc. by International Flavors & Fragrances Inc.
New Delhi, September 20, 2020
The Competition Commission of India (CCI) has approved the acquisition of Nutrition & Biosciences, Inc. (Spinco) by International Flavors & Fragrances Inc. (IFF) under Section 31(1) of the Competition Act, 2002.
The proposed combination relates to the acquisition of sole control by IFF, over the Nutrition & Biosciences business (N&B Business) of DuPont de Nemours, Inc. (DuPont), by acquiring sole control over SpinCo, a company newly formed by DuPont and to which DuPont will transfer the N&B Business, the Ministry of Corporate Affairs said in a press release.
IFF is a public company based in New York. it is active worldwide in the development, creation, and sale of flavours and fragrances that are used in consumer goods industries (such as food and beverage, personal care, or household products industries). IFF’s main business units are ‘Scent’ and ‘Taste’.
SpinCo is a recently incorporated company to which DuPont will transfer its N&B Business. The N&B Business is active worldwide in the development, production and marketing of food science, taste, and texture applications.
The business also covers biotechnology products that are used in various industries, including food and beverage, dietary supplements, home and personal care, animal nutrition and pharmaceutical excipients.
The N&B Business operates through its ‘Food & Beverage’, ‘Health & Biosciences’, and ‘Pharma Solutions’ units. A detailed order of the CCI will follow, the release added.