IFF Completes Divestiture of Cosmetics Ingredients Business

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Price: $76.18 +1.97%

Overall Analyst Rating:
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Dividend Yield: 2.1%
EPS Growth %: -5.2%

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NEW YORK--(BUSINESS WIRE)-- IFF (NYSE: IFF) today announced that it has completed the previously announced divestiture of its Cosmetic Ingredients business to Clariant, a sustainably focused specialty chemicals company. As a part of Clariant, the business will continue to deliver innovative ingredients for the cosmetic and personal care product portfolio.

“At IFF, our strategic transformation is focused on bringing leading innovation to best serve target customers in our core businesses,” said IFF CEO Erik Fyrwald. “To do this, we are optimizing and streamlining our portfolio to drive simplification and focus. The sale of IFF's Cosmetic Ingredients Business represents another significant step that will enable us to make more attractive strategic growth investments as we reduce our debt and interest costs. We want to thank our Cosmetics colleagues, who are dedicated to excellence in service. We wish them all the best for their new journey.”

Welcome to IFF

At IFF (NYSE: IFF), an industry leader in food, beverage, health, biosciences, and scent experiences, 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.