LNXSY - IFF to sell microbial control business to Lanxess in $1.3B deal

International Flavors & Fragrances (NYSE:IFF) agrees to sell its microbial control unit to German specialty chemicals company Lanxess (OTCPK:LNXSF) in a deal with an enterprise value of $1.3B. The microbial control business, which includes two production facilities in the U.S., amassed $440M in 2021 annual revenue and $85M in EBITDA. IFF says the unit offers preservation and hygiene solutions for various industrial and consumer applications, including paints and coatings, building materials, animal biosecurity, personal care and home care. The business joined IFF earlier this year through the merger with DuPont Nutrition & Biosciences.

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IFF to sell microbial control business to Lanxess in $1.3B deal