IFF Completes Divestiture of Flavor Specialty Ingredients Business
02 Agosto 2023 - 5:55AM
Business Wire
IFF (NYSE:IFF) today announced that it successfully completed
the previously announced divestiture of its Flavor Specialty
Ingredients (FSI) business to Exponent, a leading UK-based private
equity firm, on August 1, 2023.
“The sale of our FSI business unit is another step in our
journey to continuously maximize value,” said Frank Clyburn, IFF
CEO. “Portfolio optimization is a central part of our ongoing
strategy to improve growth and returns. This focus allows us to
concentrate on our most attractive businesses and strengthen our
capital structure by reducing outstanding debt. We’d like to thank
our FSI colleagues for their demonstrated commitment to innovation,
service and quality. We wish them the best for their new
journey.”
Cautionary Statement under the Private Securities Litigation
Reform Act of 1995
This press release contains “forward-looking statement” within
the meaning of the federal securities laws, including Section 27A
of the Securities Act, and Section 21E of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”). Forward-looking
statements often address expected future business and financial
performance and financial condition, and often contain words such
as “expect,” “anticipate,” “intend,” “plan,” “believe,” “continue,”
“see,” “will,” “would,” “towards,” similar expressions, and
variations or negatives of these words. Forward-looking statements
by their nature address matters that are, to different degrees,
uncertain, such as statements about our portfolio optimization and
our growth. The forward-looking statements included in this release
are made only as of the date hereof, and we undertake no obligation
to update the forward-looking statement to reflect subsequent
events or circumstances.
Welcome to IFF
At IFF (NYSE: IFF), an industry leader in food, beverage,
health, biosciences and scent, science and creativity meet to
create essential solutions for a better world – from global icons
to unexpected innovations and experiences. With the beauty of art
and the precision of science, we are an international collective of
thinkers who partners with customers to bring scents, tastes,
experiences, ingredients and solutions for products the world
craves. Together, we will do more good for people and planet. Learn
more at iff.com, Twitter, Facebook, Instagram, and LinkedIn.
© 2022 by International Flavors & Fragrances Inc. IFF is a
Registered Trademark. All Rights Reserved.
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Media Relations: Paula Heinkel 323.877.5339
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Investor Relations: Michael Bender 212.708.7263
Investor.Relations@iff.com
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