India, May 29 -- International Flavors & Fragrances Inc. (IFF), a flavors and fragrances company, said that it has inked a deal to sell its Food Ingredients business to the funds advised by CVC Capital Partners, a private markets manager, for around $4.3 billion. The transaction is expected to be closed by the end of the second quarter of 2027.
Erik Fyrwald, CEO of IFF, said: "This transaction represents an important strategic milestone in our ongoing portfolio optimization initiative, allowing us to further concentrate resources on our higher-growth, higher-margin segments."
Post transaction, IFF expects to receive net cash proceeds of around $3.8 billion. The company will utilize these proceeds to repay debt, to fund share repurchases, ...