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Subsequent Event (Notes)
3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
Subsequent Event SUBSEQUENT EVENT
Acquisition of Health Wright Products
On April 1, 2022 ("Acquisition Date"), the Company completed its acquisition of Health Wright Products, Inc. (“Health Wright”). IFF acquired 100% of the equity of Health Wright pursuant to a purchase agreement entered into on February 16, 2022. Health Wright is known in the consumer Health and Nutrition industries for providing high quality nutritional supplements. The acquisition was made in order to strengthen formulation and finished format capabilities to IFF’s Health & Biosciences probiotics, natural extracts and botanical businesses.
Under the terms of the purchase agreement, the Company agreed to pay approximately $131 million, of which approximately $123 million was paid on the Acquisition Date. Further contingent consideration will be payable upon achievement of certain earnout milestones, which is estimated to be approximately $44 million.
The acquisition will be accounted for using the purchase method of accounting, and Health Wright’s assets, liabilities and results of operations will be included in the Company’s financial statements from the Acquisition Date. The Company is in the process of completing the purchase price allocation.