International Flavors & Fragrances Inc. will acquire Israel-based flavor firm Frutarom for $7.1 billion. The cash and stock transaction — unanimously approved by both companies’ boards of directors — also includes Frutarom’s net debt.

Frutarom Industries Ltd, on the top 10 list for the world’s largest flavors and specialty fine ingredients companies, has acquired the assets of Foote & Jenks, hereby named “F&J”.