IFF INTERNATIONAL FLAVORS & FRAGRANCES INC

BULLISH Impact: 7/10 8-K
Horizon months Filed Jun 1, 2026 Processed 13d 20h ago SEC 0001193125-26-249963
8-K material event: Items 1.01
Latest settled — T+5d
IFF ▼ -1.68% at T+5d
LONG call ✗ call lost -1.68% · α vs SPY +1.07% · entry $74.26 → $73.01
Next anchor: T+20d in 15d
Last close $78.27 (close Jun 12) · +5.40% from $74.26 entry
Entry anchored
May 29, 03:59 PM ET
via Databento tick
T+1d
-1.37%
call -1.37% · α -1.52%
$73.24
settled 13d ago
T+5d
-1.68%
call -1.68% · α +1.07%
$73.01
settled 7d ago
T+20d
call — · α —
in 15d
T+60d
call — · α —
in 2mo

Price Chart

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Executive Summary

IFF entered into a definitive agreement to sell its Food Ingredients business to CVC Capital Partners for approximately $4.3 billion (enterprise value), representing a ~10x EBITDA multiple. IFF expects net cash proceeds of ~$3.8 billion at closing and will retain a ~9.9% minority equity interest valued at ~$200 million. The transaction is expected to close by end of Q2 2027 and is dilutive to adjusted EPS in the first 12 months post-close.

Key Financial Metrics

Deal Value
$4.3B

Actionable Insight

The divestiture simplifies IFF's portfolio to higher-growth Taste, Scent, and Health & Biosciences segments. The ~$3.8B cash inflow enables significant deleveraging and potential buybacks. Monitor regulatory timeline and Q2 2027 close; near-term EPS dilution is a headwind but the strategic refocusing and balance sheet improvement are positive catalysts. The reiterated 2026 guidance provides a floor for expectations.

Key Facts

  • IFF agreed to sell its Food Ingredients business to CVC Capital Partners for ~$4.3 billion enterprise value (~10x EBITDA).
  • IFF expects net cash proceeds of ~$3.8 billion at closing, plus a ~9.9% minority equity interest valued at ~$200 million.
  • The Food Ingredients business generated ~$3.1 billion in sales and ~$430 million in EBITDA in 2025.
  • Proceeds will be prioritized for debt reduction, targeted share repurchases, and reinvestment in core businesses.
  • Transaction expected to close by end of Q2 2027, subject to regulatory approvals and customary conditions.
  • IFF reiterated full-year 2026 guidance: sales $10.5B-$10.8B, adjusted operating EBITDA $2.05B-$2.15B.
  • Transaction is expected to be dilutive to adjusted EPS in the first 12 months following closing.
  • IFF has divested 13 non-core businesses including this one, generating nearly $10 billion in gross proceeds.

Financial Impact

~$4.3 billion enterprise value; ~$3.8 billion net cash proceeds; ~$200 million retained equity stake; ~10x EBITDA multiple

revenueebitdaepsdebtdilution

Risk Factors

  • Transaction expected to be dilutive to adjusted EPS in first 12 months post-close.
  • Closing not expected until end of Q2 2027 — regulatory and execution risks over ~12-month period.
  • Stranded overhead costs from the carve-out could pressure margins if not fully addressed.
  • Retained minority stake (~10%) limits upside participation and introduces illiquidity.

Market Snapshot

Exchange
NYSE
Sector
Industrial Organic Chemicals
Analyst Consensus
76% bullish (25 analysts)

Documents Analyzed

This report is based on 5 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001193125-26-249963
Document: d118591dex991.htm0001193125-26-249963
Document: 0001193125-26-249963-index-headers.html0001193125-26-249963
Document: 0001193125-26-249963-index.html0001193125-26-249963
Document: 0001193125-26-249963.txt0001193125-26-249963
6 reports for IFF
Performance horizon
67% Hit rate 2 of 3 directional calls best @ T+20▲ +7.52%Apr 16, 2026
Filters
Rows
Reports for IFF — sortable, filterable
Type Now
Jun 9, 2026
5d ago
ANALYST-UPGRADE
BULLISH ★ 3/10
$74.65 awaiting T+5awaiting T+5$78.27 (+4.85%)
Jun 1, 2026
13d ago
8-K
BULLISH ★ 7/10
$74.26 $73.01▼ −1.68%▲ +1.07%$78.27 (+5.40%)
May 16, 2026
29d ago
ANALYST-UPGRADE
BULLISH ★ 4/10
$82.51 $81.76▼ −0.92%▼ −1.01%$78.27 (−5.14%)
Apr 16, 2026
8w ago
ANALYST-UPGRADE
BULLISH ★ 8/10
$72.06 $70.94▼ −1.55%▼ −2.54%$78.27 (+8.62%)
Mar 18, 2026
12w ago
DEFA14A
NEUTRAL ★ 3/10
$67.91 $70.71▲ +4.12%▲ +4.84%$78.27 (+15.26%)
Mar 12, 2026
13w ago
Insider Cluster
BULLISH ★ 7/10
$69.60 $67.73▼ −2.69%▼ −1.71%$78.27 (+12.46%)
Showing 6 of 6

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