IFF - IFF evaluating sale of $1B cosmetics personal care unit - report

2023-05-19 12:43:58 ET

• International Flavors & Fragrances ( NYSE: IFF ) is reviewing a sale of its unit that produces ingredients for the cosmetics and personal care industry.
• IFF ( IFF ) is using an adviser as it considers options for its Lucas Meyer Cosmetics business, according to a Bloomberg report, which cited people familiar. The unit could fetch about a $1 billion in a sale.
• The business could see interest from rivals such as UK specialty chemicals company Croda International ( OTCPK:COIHF ) as well as Givaudan SA ( OTCPK:GVDBF ) and Symrise AG ( OTCPK:SYIEF ), according to the report.
• In February IFF announced an agreemen t to sell its Flavor Specialty Ingredients business to UK private equity firm Exponent for $220 million.
• IFF ( IFF ) reported Q1 results last Monday.

For further details see: