International Flavors & Fragrances (IFF) Sells Food Ingredients Business to CVC Capital Partners

McCormick & Company to Combine with Unilever’s Foods Business in ~$44.8B Transaction

March 31, 2026

Food & Beverage

McCormick & Company announced an agreement to combine with Unilever’s Foods business (excluding certain markets and segments) in a transaction valued at approximately $44.8 billion. The deal will create a global, flavor-focused company with roughly $20 billion in combined 2025 revenue, with expected annual cost synergies of about $600 million within three years.

Turpaz Industries Acquires Flavors and Essences UK (F&E) from IFF for £22M

September 3, 2024

Food & Beverage

Turpaz Industries Ltd. acquired 100% of Flavors and Essences UK Limited (F&E) from IFF for £22 million, expanding Turpaz's presence in the UK and Europe. F&E, founded in 1998, employs about 50 people and reported £6.6 million revenue in the first half of 2024; Turpaz said the acquisition strengthens its European footprint and cross-selling capabilities.

CVC Acquires Majority Stake in Partner in Pet Food from Cinven

June 28, 2024

Food & Beverage

CVC Capital Partners (CVC) has agreed to acquire a majority stake in Partner in Pet Food (PPF), a pan‑European pet food manufacturer, with existing investor Cinven retaining a minority stake and continuing as a partner. PPF operates 12 production facilities across Europe, produced ~700k tonnes and generated approximately €800 million in 2023; the transaction is expected to close in 2024 subject to regulatory approvals.

Exponent Acquires IFF's Flavour Specialty Ingredients (FSI) Business

August 2, 2023

Food & Beverage

Exponent Private Equity agreed to acquire the Flavour Specialty Ingredients division (FSI) from International Flavors & Fragrances (IFF), a UK‑headquartered supplier of natural and aroma chemical base aromas. The carve‑out includes four manufacturing and distribution facilities across the UK, US and China, serves ~970+ clients and generates over $100 million in revenue; Exponent will back FSI to grow organically and via acquisitions.

PAI Partners Acquires Savory Solutions Group from IFF

December 20, 2022

Food & Beverage

PAI Partners has agreed to acquire Savory Solutions Group from International Flavors & Fragrances (IFF). Savory Solutions Group is a global provider of savoury ingredients and blends (notably the Wiberg and Piasa brands), operating 17 manufacturing facilities and nine innovation sites with over 1,800 employees and ~€470 million turnover; PAI plans to accelerate international expansion in Europe and North America and pursue growth in plant‑based and clean‑label segments.

IFF Acquires Health Wright Products

February 16, 2022

Healthcare Services

IFF (International Flavors & Fragrances) entered into an agreement to acquire Health Wright Products, LLC, a dietary supplement formulation and capsule manufacturing provider. The deal is expected to close in the first quarter of 2022, subject to customary conditions and regulatory clearances, and financial terms were not disclosed.