What's going on?

International Flavors & Fragrances (IFF) stepped up to become DuPont�s hype man over the weekend, agreeing to buy part of the chemical giant�s business for $26 billion (tweet this).

What does this mean?

The deal is the biggest ever for IFF, which � you guessed it � designs the flavors and fragrances behind a variety of well-known food, household, and personal-care products. The merger will create a whole new super-company, combining IFF�s existing business with DuPont�s nutrition and biosciences division. And as the latter has pedigree in the kinds of chemicals used primarily in plant-based meats, the move should help IFF stay competitive in an increasingly health-conscious market.

DuPont�s shareholders will own 55% of the new company, with IFF�s investors getting the rest. They�ll all be hoping to taste success � especially since the newly formed ingredients giant is expected to make around $11 billion in sales, as well as save $300 million a year by eliminating duplicate costs.

Why should I care?

The bigger picture: The chemical bothers.

IFF�s shares fell 8% on the announcement, perhaps because investors are worried the firm is adding more to its already-huge debt pile to pay for the acquisition. But�DuPont ��which is set to receive a $7 billion one-off payment once the deal�s done � saw its stock rise. That�s good news for a company which has seen the prolonged US-China trade war hit both its growth and its share price this year.

Zooming out: Picture of health.

Deals like this one are being driven by changing tastes: worldwide consumers are becoming more conscious of the products they use, and the market for all things �wellness� is surging. Big consumer goods companies, then, are increasingly expected to meet the newfound demand for natural � rather than artificial � scents and flavorings. That might be why DuPont itself was in such high demand: until ultimately winning the day, IFF had found itself in a tense bidding war with Ireland�s Kerry Group.