IFF sells Pharma Solutions to Roquette for $2.85B enterprise value

INTERNATIONAL FLAVORS & FRAGRANCES INC

Enterprise value up to $2.85B; EV/EBITDA multiple of ~13x.
Pharma Solutions generated ~$1B revenue in 2023 with ~1,100 employees across 10 sites.
Transaction expected to close first half 2025, subject to regulatory approvals.
Sale supports IFF's debt leverage reduction target of 3.0x or below; portfolio optimization.
CEO Erik Fyrwald says sale enables focus on core long-term profitable growth drivers.

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