IFF (NYSE:IFF) today announced that it has entered into a definitive agreement to sell its Pharma Solutions business unit to French leader of plant-based ingredients Roquette for an enterprise value of up to $2.85 billion, which represents an enterprise value to EBITDA multiple of approximately 13x. IFF's Pharma Solutions business is a well-established developer and manufacturer of pharmaceutical excipients and includes its Global Specialty Solutions business supporting industrial and methyl cellulosic food applications. The Pharma Solutions business being sold to Roquette is primarily made up of businesses within IFF's existing Pharma Solutions division, with some adjustments to the perimeter of the transaction designed to align customers, businesses and the manufacturing footprint.
IFF Announces Sale of its Pharma Solutions Business to Roquette for an Enterprise Value of up to $2.85B
Company Profile
Tue. 19 Mar 2024, 6:48am ET
Benzinga
News, Asset Sales