HEBRON, Ky., June 23, 2017 /PRNewswire/
-- ZoomEssence®, Inc. and International Flavors &
Fragrances, Inc. (NYSE: IFF) have settled all claims and
counterclaims brought in a lawsuit that was originally filed by
ZoomEssence on March 9, 2012, in the
United States District Court for the District of New Jersey.
Under the settlement, IFF will make a one-time payment of
$56,000,000 to ZoomEssence. The
Settlement Agreement provides for the dismissal of all claims, with
prejudice and without any admission of liability or wrongful
conduct, and full mutual releases.
ZoomEssence creates and manufactures a broad range of powder
flavors for brands around the globe, partnering with them to custom
design consumer-preferred flavor solutions.
"Our patented Zooming® process is an innovative, no-heat spray
drying technology," said Robert
Corbett, Chief Executive Officer at ZoomEssence. "Our
mission is to empower brands to deliver exceptional, cost-effective
consumer taste experiences never before possible with powder
flavors."
"Zooming® results in better particle formation, protecting the
flavor's integrity while enhancing stability," said Dr.
Charles Beetz, Chief Scientist at
ZoomEssence. "As a result, our patented DriZoom® powder
uniquely retains the qualities present in the liquid flavors we dry
to yield authentic taste and aroma."
ZoomEssence was represented in the lawsuit by Steven G. Storch, Bijan
Amini, Lita Beth Wright,
Jason Levin and Casey Hail of Storch
Amini PC in New York, New
York.
About ZoomEssence,
Inc.
ZoomEssence, Inc. creates custom flavors
bursting with taste and aroma in powder form for leading food and
beverage brands. The company's game-changing, advanced no-heat
powder flavor creation process called Zooming® encapsulates flavor
and aroma, delivering results for partner brands where taste and
aroma are the key contributors to the highest level of consumer
appeal. ZoomEssence DriZoom® powders are found in millions of
pounds of name brand products all around the world. ZoomEssence,
Inc. has been innovating flavors since 2008 and operates facilities
in Sayreville,
NJ and Hebron,
KY.
See more
at www.ZoomEssence.com.
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SOURCE ZoomEssence, Inc.