** Shares of food ingredients maker International Flavors & Fragrances IFF.N up about 4% at $81 premarket

** Co agrees to sell its food ingredients business to private equity firm CVC Capital Partners in a deal that values the unit at about $4.3 billion

** Co has been sharpening its focus on fragrances and health business

** Deal is expected to close at the end of the second quarter of 2027

** Earlier this month, co beat Wall Street expectations for first-quarter sales and profit

** As of last close, stock up ~16% YTD