Business Wire

NY-IFF

19.3.2024 11:46:34 CET | Business Wire | Press release

Share
IFF Announces Sale of its Pharma Solutions Business to Roquette

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

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com
DK

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

Kao’s Laurier Launches New Brand Communication Initiative across Asia: Strengthening Global Integration as a Core Brand in Kao’s Asian Business4.3.2026 03:10:00 CET | Press release

Starting on International Women’s Day, March 8, Kao Corporation (TOKYO:4452) will launch new brand communication campaign in nine Asian countries and regions for its feminine sanitary product brand, Laurier, which is the core of its Asian business. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260303996141/en/ Laurier Campaign Key Visual Laurier aims to help create more supportive and understanding environments around menstruation, so that women can feel more at ease, both physically and emotionally, under the key message “Comfort, Made Together,” which will be implemented simultaneously across Asia. Kao aims to further develop Laurier as a global brand. Laurier, one of the core brands supporting Kao’s consumer care business in Asia, has been promoting globally integrated operations since 2023. Across all nine Asian countries and regions including Japan, Laurier has been working to unify product specifications and consolida

FIFA World Cup 2026™ Mascots and Representatives from the New York New Jersey Host Committee, U.S. Soccer Federation, Mexico Football Federation and Canada Soccer Light the Empire State Building to Celebrate 100 Days to Go Until the FIFA World ...3.3.2026 23:06:00 CET | Press release

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260303105064/en/ FIFA World Cup 2026™ Mascots and Representatives from the New York New Jersey Host Committee, U.S. Soccer Federation, Mexico Football Federation and Canada Soccer Light the Empire State Building to Celebrate 100 Days to Go Until the FIFA World Cup 2026™ FIFA World Cup 2026™ Mascots and Representatives from the New York New Jersey Host Committee, U.S. Soccer Federation, Mexico Football Federation and Canada Soccer Light the Empire State Building to Celebrate 100 Days to Go Until the FIFA World Cup 2026™ On Tuesday, March 3, the Empire State Building will rotate in the colors of the flags of the three host countries – the United States, Canada, and Mexico – to mark 100 days to go until the FIFA World Cup 2026™. Earlier today, the Empire State Building hosted a special tower lighting ceremony with Alex Lasry, CEO of the FIFA World Cup 26™ New York New Jersey Host C

SES Publishes 2025 Annual Report3.3.2026 21:41:00 CET | Press release

SES S.A. has today published its 2025 Annual Report, following the announcement of the company’s full year financial results for the 12 months ended 31 December 2025. Follow us on: Twitter | Facebook | YouTube | LinkedIn | Instagram Read our Blogs > Visit the Media Gallery > About SES At SES, we believe that space has the power to make a difference. That’s why we design space solutions that help governments protect, businesses grow, and people stay connected—no matter where they are. With integrated multi-orbit satellites and our global terrestrial network, we deliver resilient, seamless connectivity and the highest quality video content to those shaping what’s next. Following our Intelsat acquisition, we now offer more than 100 years of combined global industry leadership—backed by a track record of bringing innovation “firsts” to market. As a trusted partner to customers and the global space ecosystem, SES is driving impact that goes far beyond coverage. The company is headquartered

Xsolla Expands Global Payment Coverage Across 18 Markets With 6 Trusted Local Payment Methods to Help Developers Reach New Players Worldwide3.3.2026 18:00:00 CET | Press release

Amazon Pay Japan, Zain Cash, Tamara, M-Pesa, Zamtel, and the Aircash app and vouchers are now available through Xsolla Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today announced a major expansion of its global payments portfolio across 18 markets in Europe, the Middle East, Africa, and Asia. As developers continue to expand into high-growth and emerging markets, this expansion enables developers to reach new paying users, improve conversion rates, and deliver payment experiences tailored to local player preferences. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260303816373/en/ Graphic: Xsolla The newly supported payment methods include:Local Amazon Pay in Japan, with over 100 million registered Amazon Japan accounts, provides fully localized checkout experiences in Japanese Yen Zain Cash in Iraq is expanding access to mobile-first payment options in a rapidly

SES Announces Annual General Meeting of Shareholders3.3.2026 17:42:00 CET | Press release

SES: Société Anonyme RCS Luxembourg B 81267 Notice is hereby given of the Annual General Meeting of SES, Société Anonyme, to be held at the Company’s registered office at Château de Betzdorf, L-6815 Betzdorf (the “Company”), Luxembourg, on Thursday 2 April 2026 at 10:30 a.m. CET AGENDA Attendance list, quorum and adoption of the agenda Nomination of a secretary and of two scrutineers Presentation by the Chairman of the Board of Directors of the 2025 activities report of the Board of Directors Presentation of the main developments during 2025 and of the outlook Presentation of the audit report Approval of annual financial statements, balance sheet and profit and loss account as of 31 December 2025 Approval of consolidated financial statements as of 31 December 2025 Allocation of 2025 profits and transfers between reserve accounts Discharge of the members of the Board of Directors Determination of the number of Directors Confirmation of the co-optation of Joseph Cohen and determination o

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