IFF sells food ingredients to focus on biotech and naturals
The transaction marks a significant step in IFF’s portfolio transformation and is expected to strengthen the company’s focus on taste, scent, and health & biosciences.
“By simplifying our portfolio to where we can create the greatest value, IFF will accelerate innovation, drive investment in R&D, and further integrate our biotechnology and naturals capabilities more effectively across our global platform,” Erik Fyrwald, CEO of IFF, said in a press statement. “Importantly, by retaining a minority stake in Food Ingredients, we will continue to participate in the future upside of a strong business under dedicated ownership. This transaction creates substantial value for shareholders while positioning IFF to drive sustained, profitable long-term growth.”
As part of the transaction, IFF has chosen to retain an approximately 10% minority equity interest in the food ingredients business, or approximately $200 million, permitting continued collaboration and cooperation between IFF and Food Ingredients and allowing IFF and its shareholders to participate in future value creation under its new ownership.
Category: Chemicals & Materials
