International Flavors & Fragrances Inc (IFF) News & EventsIFFNews & EventsInternational Flavors & Fragrances Inc

IFF Launches SENSORA Fragrance Technology

IFF announced the launch of SENSORA, its advanced patent-pending pro-fragrance technology designed to transform how scent is experienced across home, fabric and personal care applications. Developed to meet the rising demand for a longer-lasting and more sophisticated scent experience, SENSORA delivers an evolving olfactive profile with sustained release, extending enjoyment well beyond first use.

IFF Sells Food Ingredients Business for $4.3B

IFF announced that it has entered into an agreement to sell its Food Ingredients business to funds advised by CVC Capital Partners, a global private markets manager, in a transaction that values the business at approximately $4.3B, representing an enterprise value-to-EBITDA multiple of approximately 10x. As part of the transaction, IFF has chosen to retain an approximately 10% minority equity interest in the business, or approximately $200M, permitting continued collaboration and cooperation between IFF and Food Ingredients and allowing IFF and its shareholders to participate in future value creation under its new ownership. IFF expects to receive net cash proceeds of approximately $3.8B at closing, reflecting the rolled-over equity, customary purchase price adjustments, costs incurred to stand up and carve out the business and taxes. The transaction is expected to be dilutive to adjusted EPS in the first 12 months following closing, prior to the benefits from capital deployment and any actions to address stranded overhead costs. IFF believes the strategic and financial benefits of a more focused portfolio, stronger balance sheet and improved cash generation profile outweigh the near-term earnings impact. Furthermore, the company has implemented a plan to address all of the stranded overhead costs that are a consequence of the transaction. IFF is also reiterating its previously communicated full-year 2026 guidance ranges. The company expects full year 2026 sales to be in the range of $10.5B-$10.8B and full year 2026 adjusted operating EBITDA to be in the range of $2.05B-$2.15B. IFF continues to expect comparable currency neutral sales growth to be between 1% to 4%, and comparable currency neutral adjusted operating EBITDA growth to be 3% to 8%. The transaction is expected to close by the end of the second quarter of 2027, subject to applicable information and/or consultation requirements and customary closing conditions, including regulatory approvals, where required. As part of the retained 10% equity interest, IFF will also hold a board seat in the new company.