NEW YORK —International Flavors and Fragrances (IFF) plans to acquire natural ingredients firm Frutarom for $7.1 billion, the company announced this week, in its goal of becoming the world’s top natural ingredient and flavor supplier.

“Frutarom has had a fascinating journey of accelerated growth,” said Ori Yehudai, Frutarom president and CEO, in a statement announcing the deal. “We are extremely excited to combine Frutarom with IFF. The growth potential for the combined company is substantial.”

Roughly three-quarters of Fruitarom’s sales are in the natural realm and it offers more than 70,000 products, according to the company.

Once the deal is completed, Yehudai will stay on as a strategic advisor to Andreas Fibig, IFF Chairman and CEO. IFF will remain headquartered in New York and keep a presence in Israel.