IFF to Sell Food Ingredients Unit to CVC; Sees $3.8b Proceeds(1)

(Updates with details throughout.)

IFF to sell its Food Ingredients business to funds advised by CVC Capital Partners in a deal that values the business at approximately $4.3 billion.

• Expects to receive net cash proceeds of about $3.8 billion at closing
• Retains an approx. 10% minority equity interest worth around $200 million
• Deal is expected to close by the end of the 2Q 2027
• JPMorgan and BofA serve as as IFF’s financial advisers

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