34 Industry Vol. 43 • January 2018 | Perfumer & Flavorist www.PerfumerFlavorist.com
Visually it may seem as though the industry has
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undergone a torrent of F&F ingredient deals, but
in reality deal flow is a mere trickle compared to
the overall size of the ingredients market.
BY PATRICK MEWTON, Managing Director, Clotilde Ltd. and
JOHN LEFFINGWELL, President, Leffingwell & Associates