International Flavors & Fragrances reported second-quarter continuing-operations sales rose 6% to nearly $2 billion and adjusted operating EBITDA increased 6% to $408 million, driven by volume growth across all segments. The company is selling its Food Ingredients business to CVC Capital Partners for approximately $4.3 billion, retaining a 10% stake, and plans to use more than $1 billion of proceeds to reduce debt while addressing about $100 million in stranded costs. IFF introduced full-year 2026 guidance for continuing operations, projecting sales of $7.4 billion to $7.6 billion and EBITDA of $1.53 billion to $1.6 billion. The board authorized a $2.5 billion share-repurchase program, with about $500 million expected to be repurchased in the second half of 2026. The company also announced an agreement to sell a portfolio of non-strategic products with about $170 million in annual sales for approximately $75 million, expected to close in the fourth quarter of 2026.
International Flavors & Fragrances IncReports 6% sales growth, EBITDA increase, announces $2.5B buyback, and provides 2026 guidance.
CVC Capital Partners PLCAcquires IFF's Food Ingredients business for approximately $4.3 billion.
