IFF to Sell Food Ingredients Business to CVC for $3.8 Billion

IFF agreed on May 29, 2026, to sell its Food Ingredients business to funds advised by CVC Capital Partners for approximately $3.8 billion in net cash proceeds, while retaining an approximately 10% minority stake; the deal is expected to close by the end of the second quarter of 2027, subject to approvals and other conditions. IFF plans to use more than $1 billion of the proceeds to reduce debt and has authorized $2.5 billion in share repurchases, including a $500 million accelerated repurchase in the second half of 2026 and the remaining $2.0 billion after closing.