Business Wire

IFF Announces Sale of its Pharma Solutions Business to Roquette

Share

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.

“We are pleased to reach an agreement with Roquette that will support Pharma Solutions’ next chapter of growth as a trusted partner for the pharmaceutical industry,” said IFF CEO Erik Fyrwald. "An important next step in our portfolio optimization strategy, the sale of Pharma Solutions, along with other recent actions such as our dividend rightsizing, represents a significant step towards our commitment to reducing debt leverage to 3.0x or below. This also enables us to increase focus on the core drivers of long-term profitable growth and maximize value for our shareholders. We are grateful for the many contributions of our Pharma colleagues and are confident that with Roquette, the Pharma Solutions business will be well positioned to expand its industry leadership through continued investment in innovation to meet the evolving needs of pharmaceutical manufacturers and developers worldwide.”

"We are excited to enter into this partnership with the talented Pharma Solutions team at IFF, which has grown into the go-to partner in the pharmaceutical excipients and specialty solutions markets globally,” said Pierre Courduroux, CEO of Roquette. “The combination of our excipients expertise with IFF Pharma is a fantastic opportunity to become a true global specialist of drug delivery and oral dosage solutions, responding to the needs of our customers and to the demands of patients who are looking for continuously better treatments.”

Pharma Solutions operates 10 research and development and/or production sites globally, with approximately 1100 employees, and generated approximately $1B revenue in 2023. IFF and Roquette expect to close the transaction in the first half of 2025, subject to applicable information and/or consultation requirements and customary closing conditions, including regulatory approvals. J.P. Morgan Securities LLC acted as exclusive financial advisor to IFF, Skadden, Arps, Slate, Meagher & Flom LLP acted as counsel, and Evercore as advisor to the board.

Welcome to IFF

At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, 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.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media Relations:
Paulina Heinkel
332.877.5339
Media.request@iff.com

Investor Relations:
Michael Bender
212.708.7263
Investor.Relations@iff.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Kinaxis Settles Pending Litigation13.2.2025 14:00:00 EET | Press release

Kinaxis® (TSX: KXS), a global leader in end-to-end supply chain orchestration, has entered into a settlement agreement with Blue Yonder Group, Inc. to fully resolve all pending litigation matters between the companies which includes Blue Yonder’s patent infringement claims and Kinaxis’ trade secret misappropriation counterclaims. The terms of the settlement agreement are confidential. About Kinaxis Kinaxis is a global leader in modern supply chain orchestration, powering complex global supply chains and supporting the people who manage them, in service of humanity. Our powerful, AI-infused supply chain orchestration platform, Maestro™ combines proprietary technologies and techniques that provide full transparency and agility across the entire supply chain — from multi-year strategic planning to last-mile delivery. We are trusted by renowned global brands to provide the agility and predictability needed to navigate today’s volatility and disruption. For more news and information, please

Flowchem Strengthens Leadership Team, Appointing COO, Technology Team, and Board of Senior Industry Experts13.2.2025 14:00:00 EET | Press release

Flowchem (“Flowchem” or the “Company”) and SCFPartners (“SCF”) are pleased to announce several personnel additions. Flowchem is a leading global player in the drag reducing agent (“DRA”) market, providing custom-engineered specialty chemicals to help customers around the world optimize the performance of their infrastructure. These key appointments bolster the already-strong management team in place at the time of the Company’s acquisition in 2024, positioning it for continued growth and industry leadership. Shivali Agarwal has been appointed as Chief Operating Officer (“COO”). Shivali brings decades of industry operating experience in roles across the globe, most recently serving as Group General Manager, Production Systems at SLB (NYSE:SLB). Shivali holds a Master of Business Administration from Harvard Business School and a Master of Science in Biological Sciences and a Bachelor of Science in Chemical Engineering from the Birla Institute of Technology & Science, Pilani, India. Flowc

Infobip Joins EU Initiative to Boost Europe's Global Competitiveness13.2.2025 13:47:00 EET | Press release

Global cloud communications platform Infobip has officially signed the contract to join the IPCEI-CIS project, an EU-led initiative to create the next-generation global communications platform to increase Europe's international competitiveness. The signing took place at Infobip's campus in Zagreb, where Croatian Prime Minister Andrej Plenković participated in the event alongside Infobip's CEO Silvio Kutić. With this project, Europe aims to safeguard its digital and technological sovereignty, as many existing models that dominate the cloud infrastructure sector do not often align with EU data protection and transparency regulations. Croatian Prime Minister Andrej Plenković said: "Infobip is an example of Croatian technological excellence and global success. Its entry into the Project of Common European Interest (IPCEI) confirms its key role in European digital infrastructure. This project helps create a secure cloud infrastructure, supporting industries, companies, and public services a

Xsolla Partners With Day of the Devs for 2025 to Support New Game Development and Launches at Key Events13.2.2025 11:00:00 EET | Press release

Xsolla, a leading global video game commerce company, announces its 2025 flagship sponsorship for Day of the Devs, a non-profit organization celebrating video games' creativity, diversity, and magic. This announcement underscores Xsolla's commitment to empowering game developers and bringing together opportunities for creative talent and development worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250213515388/en/ (Graphic: Xsolla) “This partnership and collaboration underscores our ongoing mission to empower developers and make great games more accessible worldwide no matter what size or where they are from,” said Berkley Egenes, Chief Marketing & Growth Officer. “Day of the Devs powered by Xsolla provides an unparalleled platform to support diverse talent and creativity and create a channel to bring opportunities together for developers, and we are proud to be a part of this initiative.” Day of the Devs, powered b

Ricardo Signs Deal to Support Singer With Bespoke Manual Transmissions13.2.2025 11:00:00 EET | Press release

Ricardo, a global strategic, environmental, and engineering consulting company, has signed a deal to supply bespoke, manual transmissions to Singer’s operations in the US and UK. The transmissions will be exclusive to Singer and will initially be available to owners who request Singer’s Classic Turbo or DLS Turbo restoration services for their Type 964 Porsche 911. Singer arrived on the automotive scene with their Classic services in 2009. Since then, the company has developed restoration services allowing owners to personalise both naturally aspirated and turbocharged cars. A Porsche 911 Reimagined by Singer is a rare machine, bringing together iconic design with twenty-first century engineering and material science. Ricardo’s design team will ensure that the transmissions meets the exacting, high performance needs of Singer’s clients. The focus is on delivering an H-pattern transmission able to accommodate the additional demands that a turbocharged car places on the drivetrain. Desig

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye