Key Takeaways
- • International Flavors & Fragrances (IFF) is divesting its food ingredients business to CVC Capital Partners in a transaction valued at approximately $4.3 billion, according to an announcement on May 29, 2026.
- • Skadden Arps Slate Meagher & Flom LLP is serving as legal counsel to IFF, while White & Case LLP is advising CVC Capital Partners on the acquisition.
- • The sale represents a significant portfolio restructuring for IFF, allowing the company to focus its strategic direction while CVC gains exposure to the food ingredients sector.
Summary
International Flavors & Fragrances announced the sale of its food ingredients business to private equity firm CVC Capital Partners for approximately $4.3 billion. The transaction, announced on Friday, May 29, 2026, marks a substantial divestiture for the multinational specialty chemicals and ingredients company.
Skadden Arps Slate Meagher & Flom LLP is representing IFF in the transaction, while CVC Capital Partners retained White & Case LLP to provide legal counsel on its side of the deal. The involvement of two major international law firms underscores the complexity and scale of the agreement.
The sale of the food ingredients unit represents a strategic decision by IFF to reshape its portfolio and capital allocation priorities. For CVC Capital Partners, the acquisition provides entry into the food ingredients market, a segment of the broader food and beverage supply chain that serves manufacturers and food service operators globally. The $4.3 billion valuation reflects current market conditions and the unit's operational performance and growth prospects.
Skadden Arps Slate Meagher & Flom LLP is representing IFF in the transaction, while CVC Capital Partners retained White & Case LLP to provide legal counsel on its side of the deal. The involvement of two major international law firms underscores the complexity and scale of the agreement.
The sale of the food ingredients unit represents a strategic decision by IFF to reshape its portfolio and capital allocation priorities. For CVC Capital Partners, the acquisition provides entry into the food ingredients market, a segment of the broader food and beverage supply chain that serves manufacturers and food service operators globally. The $4.3 billion valuation reflects current market conditions and the unit's operational performance and growth prospects.
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