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 . To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/zoomessence-settles-trade-secret-lawsuit-for-56-million-300478896.html SOURCE ZoomEssence, Inc.
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.