US company Kerr Concentrates has entered into an agreement to acquire the fruit and vegetable concentrate business of US flavours company International Flavors & Fragrances (IFF).
"This divestiture is a part of IFF's ongoing reorganisation efforts and reflects our renewed focus on our high value-added, core flavours and fragrances business," said Richard A. Goldstein, IFF chairman and chief executive officer.
Mike Alley, Kerr vice president and general manager, added: "We are excited to continue Kerr Concentrates' long tradition of providing customers with superior quality fruit and vegetable concentrates, purees and essences."
The concentrates business is based in Salem, Oregon, and has annual sales of approximately $23 million (€24.1m). Terms of the agreement were not disclosed.