DivestmentAug 4, 2026, 04:41 PM
IFF to Divest Food Ingredients Business; Q2 EPS $0.20
AI Summary
International Flavors & Fragrances (IFF) announced an agreement to divest its Food Ingredients business to CVC Capital Partners, while retaining a 10% equity interest, with the transaction expected to close by Q2 2027. For the second quarter of 2026, net sales increased 1.8% to $1.954 billion, but diluted EPS significantly decreased to $0.20 from $2.33 in Q2 2025. Year-to-date, net income attributable to IFF shareholders improved to $219 million from a loss of $419 million in H1 2025. The company also completed the divestiture of its Soy Crush, Concentrates & Lecithin business and recorded a $27 million loss on assets held for sale for the CitraSource business.
Key Highlights
- IFF to divest Food Ingredients business to CVC Capital Partners, retaining 10% equity interest.
- Q2 2026 net sales increased 1.8% to $1.954 billion from $1.919 billion in Q2 2025.
- Q2 2026 diluted EPS was $0.20, down from $2.33 in Q2 2025.
- H1 2026 net income attributable to IFF shareholders was $219 million, up from $(419) million loss in H1 2025.
- Completed divestiture of Soy Crush, Concentrates & Lecithin business in March 2026 for $105 million.
- Recorded $27 million loss on assets held for sale for CitraSource business divestiture.
- Declared quarterly dividend of $0.40 per share for Q2 2026.
Price Impact
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