IFF Sells Food Ingredients Unit for $4.3 Billion, Retaining 10% Stake

11 articles · Updated · cvc.com · May 29

$4.3 billion is the value of IFF's deal to sell its Food Ingredients business to CVC Capital Partners, while keeping an approximately 10% minority stake worth about $200 million.
10x EBITDA is the implied valuation multiple on a unit that generated nearly $3.1 billion in 2025 sales and about $430 million in EBITDA.
IFF said the sale advances its portfolio overhaul by sharpening focus on Taste, Scent, and Health & Biosciences, with management expecting better cash flow and greater financial flexibility.
CVC is buying a business centered on texturants, emulsifiers and plant-based solutions, betting on growth tied to rising food consumption and demand for clean-label products.

Is IFF's $4.3B sale a masterstroke in corporate focus or a retreat from the booming natural food market?

Will CVC's bet on clean-label ingredients conquer the market or succumb to its hidden operational challenges?