Unlocking Value: IFF Completes Divestiture of Flavor Specialty Ingredients Business

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In a strategic move to maximize value, IFF (NYSE:IFF) has successfully completed the divestiture of its Flavor Specialty Ingredients (FSI) business to Exponent, a leading UK-based private equity firm, on August 1, 2023. This significant milestone marks a pivotal moment in IFF's ongoing journey to optimize its portfolio and strengthen its growth and returns.

"The sale of our FSI business unit is another step in our journey to continuously maximize value," said Frank Clyburn, IFF CEO. "Portfolio optimization is a central part of our ongoing strategy to improve growth and returns. This focus allows us to concentrate on our most attractive businesses and strengthen our capital structure by reducing outstanding debt. We'd like to thank our FSI colleagues for their demonstrated commitment to innovation, service, and quality. We wish them the best for their new journey."

With this divestiture, IFF is strategically aligning its core businesses and capitalizing on its most attractive sectors. By shedding non-core assets, the company aims to streamline operations and enhance its financial position. This marks a strategic move towards a more focused and agile organization, ready to meet the evolving demands of the market.

IFF is an industry leader in food, beverage, health, biosciences, and scent. With a deep commitment to science and creativity, the company partners with customers to create essential solutions that improve the world we live in. From global icons to unexpected innovations, IFF combines the beauty of art with the precision of science to develop scents, tastes, and experiences that captivate consumers globally.

By divesting its Flavor Specialty Ingredients business, IFF is positioning itself to invest more heavily in its core competencies and pursue opportunities that align with its growth strategy. This strategic realignment enables IFF to focus on its most promising businesses, ensuring sustained success in the ever-changing landscape of the industry.

As part of the divestiture, IFF has successfully completed the transfer of its Flavor Specialty Ingredients business to Exponent, a prominent UK-based private equity firm. Exponent's expertise and resources position them to drive the future growth and success of the Flavor Specialty Ingredients business. This transition ensures a seamless continuation of operations, allowing the business to flourish under new ownership.

IFF remains committed to its mission of doing more good for people and the planet. With a strong focus on sustainability and responsible business practices, the company strives to create positive change in the world. By optimizing its portfolio and concentrating on its core businesses, IFF can better allocate resources towards innovative solutions and sustainable practices that benefit both its customers and the environment.

In conclusion, IFF's divestiture of its Flavor Specialty Ingredients business represents a strategic move to unlock value and enhance future growth opportunities. Through portfolio optimization, the company is strategically aligning its core competencies and strengthening its financial position. With a renewed focus on its most attractive businesses, IFF is well-positioned to deliver innovative solutions and create a better world for consumers worldwide.

About IFF:

IFF (NYSE:IFF) is an industry leader in food, beverage, health, biosciences, and scent, combining science and creativity to create essential solutions for a better world. From global icons to unexpected innovations, IFF partners with customers to develop scents, tastes, experiences, ingredients, and solutions that meet the evolving demands of the market. With a strong commitment to sustainability and responsible business practices, IFF strives to create positive change in the world. Learn more at iff.com.

Disclaimer: This article is for informational purposes only. This article is not financial advice and should not be construed as such. Please consult with a professional financial advisor before making any investment decisions.