- IFF ( NYSE: IFF ) has agreed to sell its Savory Solutions Group to private equity firm PAI Partners in a transaction that values the business at ~$900M.
- Cash proceeds net of taxes and expenses will be primarily used to reduce outstanding debt.
- IFF’s Savory Solutions Group focuses primarily on ingredients for prepared foods and foodservice, including products for butchers, and plant-based solutions for the vegan and vegetarian markets. Over the last 12 months, the group generated approximately $475M in revenue.
For further details see:
IFF to sell Savory Solutions Group