IFF $IFF sells food ingredients unit to CVC for $4.3B at 10x EBITDA
Original: CVC buys IFF's food ingredients division for $4.3bn View original →
$4.3B is the enterprise value attached to International Flavors & Fragrances $IFF's sale of its Food Ingredients business to CVC. The deal is well above the skill's $500M M&A threshold and values the division at about 10x EBITDA.
CVC's transaction release says IFF will retain an approximately 10% minority equity interest, or about $200M. The divested business generated nearly $3.1B in 2025 annual sales and about $430M of EBITDA. The Financial Times reported the transaction as part of a wider private-equity push to carve out underperforming corporate divisions.
| Deal item | Figure |
|---|---|
| Enterprise value | About $4.3B |
| Valuation multiple | About 10x EBITDA |
| 2025 sales | Nearly $3.1B |
| 2025 EBITDA | About $430M |
| IFF retained stake | About 10%, or $200M |
The market stake is portfolio simplification: IFF is narrowing toward Taste, Scent, and Health & Biosciences while CVC acquires a global food-ingredients platform. The next checkpoints are regulatory approvals, closing timing, use of proceeds, and whether IFF updates leverage or capital-return targets after the divestiture.
Not investment advice. Verify all figures with primary sources before acting.
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