IFF agrees to sell Food Ingredients business to CVC for $4.3 billion

International Flavors & Fragrances Inc.

International Flavors & Fragrances Inc.

IFF

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  • IFF agreed to sell its Food Ingredients business to funds advised by CVC Capital Partners in a deal valuing the unit at about USD 4.3 billion.
  • IFF will retain about a 10% minority stake worth about USD 200 million, preserving collaboration and participation in future value creation.
  • Food Ingredients generated nearly USD 3.1 billion of annual sales in 2025, with about USD 430 million of EBITDA.
  • Net cash proceeds are expected to be about USD 3.8 billion, earmarked mainly for debt reduction, share repurchases, reinvestment.
  • Closing is expected by end of Q2 2027; IFF expects initial dilution to adjusted EPS, reiterating 2026 sales guidance of USD 10.5-10.8 billion.


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