International Flavors & Fragrances (IFF) Sells Food Ingredients Business to CVC Capital Partners
June 2, 2026
IFF has entered into an agreement to sell its Food Ingredients business to funds advised by CVC Capital Partners for an enterprise value of approximately $4.3 billion (about 10x EBITDA). IFF will retain an approximately 10% minority equity stake and a board seat in the newly formed company, and expects to receive about $3.8 billion in net cash proceeds at closing.
- Buyers
- CVC Capital Partners
- Targets
- IFF Food Ingredients business (Food Ingredients division of International Flavors & Fragrances)
- Sellers
- International Flavors & Fragrances (IFF)
- Industry
- Food & Beverage
- Location
- New York, United States
- Transaction Type
- Divestiture
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