IFF recently 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.”

 

IFF’s FSI is a leading manufacturer of specialty base aromas with a broad range of more than 1,000 aroma chemicals and natural extracts, which provide inputs primarily to the flavor market. FSI includes four dedicated manufacturing and distribution facilities at Teesside and Hartlepool, United Kingdom; Cincinnati, United States; and Pucheng, China, with additional points of distribution in Mexico, Brazil and Hong Kong. With approximately 340 employees, IFF’s FSI business serves more than 970 customers and generated more than $100 million in revenue over the last 12 months.