The Competition Commission of India (“CCI”) vide Press Release No. 105/2024-25[1], dated March 04, 2025, approved the proposed combination involving the acquisition of the Pharma Solutions segment and certain product lines of the Nourish segment (collectively, the “Target Business”) of International Flavors & Fragrances Inc. (“IFF”) by Roquette Frères S.A. (“Roquette”). This acquisition shall be carried out through Roquette’s purchase of equity interests in certain IFF entities that house or are proposed to house the Target Business.
The entities involved in the proposed acquisition are as follows:
- The Roquette, a family-owned French company, active in the production and sale of plant-based ingredients, excipients, and plant proteins for various applications. Roquette operates in India through several subsidiaries, including Crest Cellulose Pvt. Ltd., Sethness-Roquette India Ltd., and Roquette India Pvt. Ltd.
- Target Business is a part of the IFF, a U.S. public company listed on the New York Stock Exchange. The Target Business primarily comprises its Pharma Solutions segment and certain product lines of the Nourish segment. The ‘Pharma Solutions’ segment produces a variety of cellulosics and other plant-based pharmaceutical excipients, while the ‘Nourish’ segment includes flavours, texturizing solutions, and food designs. The Target Business operates in India through Danisco Nutrition and Biosciences India Private Limited.
[1] https://www.cci.gov.in/media-gallery/press-release/details/492/0