DivestmentAug 4, 2026, 04:46 PM
International Flavors & Fragrances Recasts Financials After Divestment
AI Summary
International Flavors & Fragrances Inc. (IFF) announced the reclassification of its Food Ingredients business and previously sold Soy Crush, Concentrates, and Lecithin (SCL) business as discontinued operations. This follows a purchase agreement to sell the Food Ingredients business to CVC Capital Partners, with IFF retaining a 10% minority equity interest. The company furnished recast unaudited financial information for various periods to reflect this strategic shift, which is expected to have a major effect on IFF’s operations and results.
Key Highlights
- International Flavors & Fragrances entered into a Purchase Agreement to sell its Food Ingredients business to CVC Capital Partners.
- IFF will retain an approximately 10% minority equity interest in the divested Food Ingredients business.
- The sale of the Food Ingredients disposal group is expected to close by the end of Q2 2027.
- The Soy Crush, Concentrates, and Lecithin (SCL) disposal group sale was completed on March 2, 2026.
- Both Food Ingredients and SCL businesses are now presented as discontinued operations in recast financials.
- Recast Net sales for Q1 2026 from continuing operations were $1,906 million.
- Recast Net income attributable to IFF shareholders for Q1 2026 was $169 million.
- Recast diluted EPS from continuing operations for Q1 2026 was $0.60.
Price Impact
More from IFF