International Flavors & Fragrances said on Tuesday it would sell its pharma solutions business to French plant-based ingredients maker Roquette in a deal valued at $2.85 billion, as it looks to focus on higher-margin businesses.
The move comes at a time when IFF is seeing demand slow for its food ingredients and solutions business, especially from end-users such as consumer goods companies, amid higher interest rates and inflationary pressures.
Source: Reuters
Can’t stop reading? Read more
PAI and ICG strike €3bn Infra Group deal with partial stake sale
PAI and ICG strike €3bn Infra Group deal with partial stake sale PAI Partners has partially exited...
Blackstone snaps up East Miami luxury hotel amid hospitality deal spree
Blackstone snaps up East Miami luxury hotel amid hospitality deal spree Blackstone has purchased...
Bain Capital strikes $3.9bn deal to sell China data centre arm amid AI boom
Bain Capital strikes $3.9bn deal to sell China data centre arm amid AI boom Bain Capital has...