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IFF to sell its Food Ingredients business

This article was originally posted on Chemical Engineering Online.
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Summary
International Flavors & Fragrances (IFF) agreed to sell its Food Ingredients business to funds advised by CVC Capital Partners, valuing the unit at about $4.3 billion (approximately 10x enterprise value-to-EBITDA).

What impact do you expect this divestiture—and its ~10x EV/EBITDA valuation—to have on IFF’s strategy and on competition in the food-ingredients market?

International Flavors & Fragrances Inc. (IFF; New York City) announced that it has entered into an agreement to sell its Food Ingredients business to funds advised by CVC Capital Partners, a leading global private markets manager, in a transaction that values the business at approximately $4.3 billion, representing an enterprise value-to-EBITDA multiple of approximately 10x. […]

The post IFF to sell its Food Ingredients business appeared first on Chemical Engineering.

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