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IFF divests fragrance aromachemicals

This article was originally published in The Rose Sheet

Executive Summary

Close Brothers Private Equity to acquire Widnes, UK-based business, forming Aroma & Fine Chemicals, firms announce Dec. 7. New company will have an annual turnover of $28.5 mil. (£1=$1.43) and will employ 80 people. Under the guidance of Managing Director Steven Pipe, A&FC will manufacture fragrances used in a wide variety of designer scents, personal care and household products. Firm will reside on site previously occupied by Bush Boake Allen before its acquisition by IFF last year. IFF previously said it would sell the majority of the BBA aromachemicals business to pay down debt (1"The Rose Sheet" Feb. 26, In Brief)...

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