IFF Inks $26 Million Settlement in Fragrance Price-Fixing Case

International Flavors & Fragrances Inc. has agreed to pay $26 million to settle claims that it colluded to fix the price of fragrance ingredients.

Direct purchaser plaintiffs filed a request for preliminary approval of the deal Friday in the US District Court for the District of New Jersey.

New York-based IFF is one of four defendant fragrance firms accused in 2023 of violating Section 1 of the Sherman Act by reducing or eliminating competition for fragrance products. The other defendants are Firmenich SA, Symrise AG, and Givaudan SA.

Several similar cases were consolidated into multidistrict litigation.

“DPPs reached ...