NY-IFF
19.3.2024 11:46:34 CET | Business Wire | Press release
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240318143532/en/
About Business Wire
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
Lattice Delivers Industry-First PQC-Enabled Platform Firmware Resilience for AI Infrastructure with Lattice Sentry Solution Stack12.10.2026 22:00:00 CEST | Press release
Lattice Semiconductor (NASDAQ: LSCC), the low power programmable and platform firmware leader, today announced the latest version of its Lattice Sentry™ solution stack (v5.0), the industry’s first post-quantum cryptography (PQC)-enabled Platform Firmware Resilience (PFR) and attestation solution. Extending Lattice's post-quantum cryptography leadership from silicon to a complete platform security stack, Lattice Sentry now delivers CNSA 2.0-aligned, NIST-compliant protection across AI data centers, and critical infrastructure, giving system designers a validated, production-ready path to quantum-resistant security. Lattice Sentry extends the company’s PQC leadership, combining the industry's first CNSA 2.0-compliant FPGA portfolio with AMI's platform management software to deliver a complete, integrated platform security solution. “AI infrastructure and the threat landscape are evolving rapidly. Platform firmware has become a primary attack vector, and the quantum era will upend decades
Cooler Master Expands End-to-End Cooling Solutions for AI Infrastructure12.10.2026 19:00:00 CEST | Press release
2,500 kW CDU anchors a portfolio spanning facility cooling, coolant distribution, rack-level thermal management and deployment equipment for high-density AI infrastructure Cooler Master, a global leader in digital infrastructure cooling solutions, has outlined its end-to-end cooling portfolio for AI infrastructure, designed to support high-density computing deployments in new data centers and existing facilities expanding AI capacity. Anchored by a 2,500 kW Liquid-to-Liquid In-Row Coolant Distribution Unit (CDU), the portfolio spans facility-level heat transfer, rack and server cooling, and the equipment used to prepare liquid cooling systems for operation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261012102572/en/ “Customers need choices that bring fast time-to-market, flexibility, and scalability for the deployment of their facilities,” said Thomas Chen, CEO at Cooler Master Corporation. “We aim to help them put liqui
GigaDevice Deepens Ecosystem Collaboration with LVGL to Advance GD32’s Global Open-Source GUI Ecosystem12.10.2026 15:00:00 CEST | Press release
GigaDevice, a leading semiconductor company specializing in Flash memory, 32-bit microcontrollers (MCUs), sensors, and analog products, is deepening its ecosystem collaboration with LVGL. LVGL's Open graphics library is one of the world’s most widely‑adopted open‑source embedded frameworks. Eight GD32 MCU product families have now been officially included in the LVGL ecosystem, providing developers worldwide with more convenient and efficient support for embedded graphics development. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261012320702/en/ Eight GD32 product series supported on LVGL website LVGL is an open-source graphical user interface framework designed for embedded devices, commercially supported by LVGL Ltd., a technology company based in Cambridge, UK. Lightweight, efficient, and cross-platform, it can be widely used in applications such as smart home devices, industrial control systems, consumer electronics, a
W. L. Gore & Associates Launches GORE® Battery Vents – MultiVent Series at the Battery Show12.10.2026 14:00:00 CEST | Press release
The integrated battery vent combines pressure equalization, moisture protection, and resealable thermal-runaway evacuation in a single part, with one opening in the pack wall. Today, W. L. Gore & Associates (Gore) introduced GORE® Battery Vents – MultiVent Series at The Battery Show North America 2026, a new integrated venting architecture that combines all three functions into a single device. Designed for lithium-ion battery packs in electric vehicles and energy storage systems, GORE® MultiVent is an integrated battery vent: one device that equalizes pressure, protects against moisture and evacuates gas during thermal runaway, then reseals. It gives pack designers an alternative to combining dual-stage vents, separate evacuation valves and desiccants. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261012625188/en/ GORE® MultiVent GORE MultiVent builds on technology Gore acquired from Vernay Laboratories in 2026 and combine
Echodyne and ACS Sign Strategic Collaboration Agreement to Advance Counter-UAS Capabilities Worldwide12.10.2026 14:00:00 CEST | Press release
Successful integration of EchoShield® radar with ACS’s Bullfrog™ autonomousweapon station delivers precise tracking and affordable kinetic defeat across land and maritime missions. Echodyne, the radar platform company, and ACS, a precision robotics company for defense, today announced the signing of a Strategic Collaboration Agreement to accelerate the development, demonstration, and deployment of integrated counter-unmanned aircraft system (C-UAS) solutions. The agreement establishes collaboration across Echodyne’s high-performance commercial counter-UAS radar hardware and software roadmaps and ACS’s Bullfrog robotic weapon station capabilities, and follows the recent announcement of each company’s award from Joint Interagency Task Force 401 for Domestic Shield, the JIATF-401 C-UAS Marketplace, and other critical counter-drone requirements. Bullfrog combines computer vision, autonomous control, and precision robotics with existing weapon systems to detect, track, identify, and engage
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