TFF/Belmay terminate proposed merger
This article was originally published in The Rose Sheet
Executive Summary
Fragrance developer Technology Flavors & Fragrances and fragrance supplier Belmay have terminated proposed merger discussions in a mutual agreement, the two companies announce Jan. 16. "Although the TFF/Belmay combination would have created a much larger entity in terms of sales volume...the proposed merger was not in the interest of our shareholders," Amityville, N.Y.-based TFF states. The two firms entered into the proposed agreement in November; merger was projected to result in combined sales of $60 mil. for the two firms (11"The Rose Sheet" Nov. 26, 2001, In Brief)...
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