International Flavors Acquires David Michael & Co., Inc.


Houlihan Lokey’s Consumer, Food & Retail Group is pleased to announce that David Michael & Co., Inc. has been acquired by International Flavors & Fragrances Inc. (NYSE: IFF). Financial terms of the transaction were not disclosed. The transaction closed on October 7, 2016.

Founded in 1896 and headquartered in Philadelphia, Pa., David Michael is a leading developer and manufacturer of customized flavor solutions. David Michael maintains deep relationships with widely recognized and innovative food and beverage companies in North America and abroad. The company is well known in the flavor industry for its vanilla expertise, strength in the dairy and beverage categories, and relationships with dynamic, fast-growing middle-market customers.

International Flavors & Fragrances (Euronext Paris:IFF) is a leading innovator of sensorial experiences that move the world. The company’s passion for exploration drives it to co-create unique products that consumers taste, smell, or feel in fine fragrances and beauty, detergents, and household goods, as well as beloved foods and beverages. The 6,700 team members globally take advantage of leading consumer insights, research and development, creative expertise, and customer intimacy to develop differentiated offerings for consumer products.

Houlihan Lokey served as the exclusive financial advisor to David Michael and assisted in structuring and negotiating the transaction on their behalf. This deal represents another successful transaction for Houlihan Lokey in the Food & Beverage industry.

If you would like more information about Houlihan Lokey, or if you have questions regarding the sale of David Michael, please contact one of the Consumer, Food & Retail Group team members listed below.

* * * * * * *

Deal Team Contacts

Consumer, Food & Retail Group:

Jay Novak
Managing Director
Global Head of the Consumer, Food & Retail Group

Tim Larsen
Managing Director

Dane Gilmour
Vice President

Houlihan Lokey (NYSE: HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, valuation, and strategic consulting. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of our commitment to client success across our advisory services. Houlihan Lokey is ranked as the No. 1 M&A advisor for all U.S. transactions, the No. 1 global restructuring advisor, and the No. 1 global M&A fairness opinion advisor over the past 15 years, according to Thomson Reuters.