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Equity analysts predict a bright future for the mega merger, completed today (1 February), between International Flavors & Fragrances Inc (IFF) and DuPont’s Nutrition & Biosciences (N&B) business. They also expect more tie-ups to come in the fragmented yet flush with funds flavours and ingredients sector. The combination of IFF and DuPont’s Denmark-based N&B division creates a global leader in high-value ingredients and solutions for the Food & Beverage, Home & Personal Care and Health & Wellness markets, with an estimated 2020 revenue of more than $11 billion and EBITDA (earnings before interest, taxes, depreciation, and amortization) of around $2.5 billion. The combined company will continue to operate under the name IFF. Analysts at Swiss bank UBS said this effectively doubles the scale of the old IFF, giving it around a 50% scale advantage over its largest direct competitor and an R&D spend roughly twice that of its peers. ....