{"id":761067,"date":"2023-05-31T16:19:17","date_gmt":"2023-05-31T20:19:17","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/"},"modified":"2023-05-31T16:19:17","modified_gmt":"2023-05-31T20:19:17","slug":"iff-completed-divestiture-of-savory-solutions-business","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/","title":{"rendered":"IFF Completed Divestiture of Savory Solutions Business"},"content":{"rendered":"

<\/p>\n

\nIFF Completed Divestiture of Savory Solutions Business<\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nIFF (NYSE:IFF) today announced that it has successfully completed the previously announced divestiture of its Savory Solutions business unit to PAI Partners (PAI), a leading global private equity firm with a strong focus on the food and consumer industry.<\/p>\n

\nUnder PAI ownership, Savory Solutions Group has been rebranded to NovaTaste, a global leader in taste innovation with headquarters in Salzburg, Austria.<\/p>\n

\n\u201cThe sale of IFF\u2019s Savory Solutions Group represents our continued efforts to optimize our portfolio as we focus on core businesses and strengthen our capital structure,\u201d said Frank Clyburn, IFF CEO. \u201cWe remain steadfast in our commitment to further pursue portfolio optimization opportunities as we drive toward our deleverage target by the end of 2024. We\u2019re grateful to our Savory Solutions colleagues, who have demonstrated their commitment to innovation, service and quality. We wish them the best in their new journey.\u201d<\/p>\n

Cautionary Statement under the Private Securities Litigation Reform Act of 1995<\/b><\/p>\n

\nThis press release contains \u201cforward-looking statement\u201d within the meaning of the federal securities laws, including Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d). Forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as \u201cexpect,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cbelieve,\u201d \u201cseek,\u201d \u201csee,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201ctarget,\u201d \u201cpursue,\u201d \u201cdrive\u201d similar expressions, and variations or negatives of these words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about our deleverage target and portfolio optimization. The forward-looking statements included in this release are made only as of the date hereof, and we undertake no obligation to update the forward-looking statement to reflect subsequent events or circumstances.<\/p>\n

Welcome to IFF<\/b><\/p>\n

\nAt IFF (NYSE: IFF), an industry leader in food and beverage, fragrance, home and personal care, and health and wellness. Innovation is at the heart of IFF\u2019s purpose of applying science and creativity to create a better world \u2013 from global icons to unexpected experiences. We are an international collective of thinkers who develop some of the most groundbreaking products in our industry and partner with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we work to design products that offer a positive contribution to people, society and the world around us.<\/p>\n

\nLearn more at iff.com<\/a>, Twitter<\/a> , Facebook<\/a>, Instagram<\/a>, and LinkedIn<\/a>.<\/p>\n

\n\u00a9 2023 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230531005869\/en\/<\/a><\/span><\/p>\n

\nMedia Relations:
\n
Paula Heinkel
\n
332.877.5339
\n
Media.request@iff.com
\n<\/a><\/p>\n

Investor Relations:
\n
Michael Bender
\n
212.708.7263
\n
Investor.Relations@iff.com<\/a><\/p>\n

KEYWORDS:<\/b> Europe United States North America New York<\/p>\n

INDUSTRY KEYWORDS:<\/b> Retail Other Consumer Consumer Home Goods Specialty Food\/Beverage<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

IFF Completed Divestiture of Savory Solutions Business NEW YORK–(BUSINESS WIRE)– IFF (NYSE:IFF) today announced that it has successfully completed the previously announced divestiture of its Savory Solutions business unit to PAI Partners (PAI), a leading global private equity firm with a strong focus on the food and consumer industry. Under PAI ownership, Savory Solutions Group has been rebranded to NovaTaste, a global leader in taste innovation with headquarters in Salzburg, Austria. \u201cThe sale of IFF\u2019s Savory Solutions Group represents our continued efforts to optimize our portfolio as we focus on core businesses and strengthen our capital structure,\u201d said Frank Clyburn, IFF CEO. \u201cWe remain steadfast in our commitment to further pursue portfolio optimization opportunities as we drive toward our deleverage … <\/p>\n

Continue reading “IFF Completed Divestiture of Savory Solutions Business”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-761067","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nIFF Completed Divestiture of Savory Solutions Business - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFF Completed Divestiture of Savory Solutions Business - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"IFF Completed Divestiture of Savory Solutions Business NEW YORK–(BUSINESS WIRE)– IFF (NYSE:IFF) today announced that it has successfully completed the previously announced divestiture of its Savory Solutions business unit to PAI Partners (PAI), a leading global private equity firm with a strong focus on the food and consumer industry. Under PAI ownership, Savory Solutions Group has been rebranded to NovaTaste, a global leader in taste innovation with headquarters in Salzburg, Austria. \u201cThe sale of IFF\u2019s Savory Solutions Group represents our continued efforts to optimize our portfolio as we focus on core businesses and strengthen our capital structure,\u201d said Frank Clyburn, IFF CEO. \u201cWe remain steadfast in our commitment to further pursue portfolio optimization opportunities as we drive toward our deleverage … Continue reading "IFF Completed Divestiture of Savory Solutions Business"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-31T20:19:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230531005869r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-completed-divestiture-of-savory-solutions-business\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-completed-divestiture-of-savory-solutions-business\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"IFF Completed Divestiture of Savory Solutions Business\",\"datePublished\":\"2023-05-31T20:19:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-completed-divestiture-of-savory-solutions-business\\\/\"},\"wordCount\":478,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-completed-divestiture-of-savory-solutions-business\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20230531005869r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-completed-divestiture-of-savory-solutions-business\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-completed-divestiture-of-savory-solutions-business\\\/\",\"name\":\"IFF Completed Divestiture of Savory Solutions Business - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-completed-divestiture-of-savory-solutions-business\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-completed-divestiture-of-savory-solutions-business\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20230531005869r1&sid=flmnd&distro=nx&lang=en\",\"datePublished\":\"2023-05-31T20:19:17+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-completed-divestiture-of-savory-solutions-business\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-completed-divestiture-of-savory-solutions-business\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-completed-divestiture-of-savory-solutions-business\\\/#primaryimage\",\"url\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20230531005869r1&sid=flmnd&distro=nx&lang=en\",\"contentUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20230531005869r1&sid=flmnd&distro=nx&lang=en\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/iff-completed-divestiture-of-savory-solutions-business\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"IFF Completed Divestiture of Savory Solutions Business\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"IFF Completed Divestiture of Savory Solutions Business - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/","og_locale":"en_US","og_type":"article","og_title":"IFF Completed Divestiture of Savory Solutions Business - Market Newsdesk","og_description":"IFF Completed Divestiture of Savory Solutions Business NEW YORK–(BUSINESS WIRE)– IFF (NYSE:IFF) today announced that it has successfully completed the previously announced divestiture of its Savory Solutions business unit to PAI Partners (PAI), a leading global private equity firm with a strong focus on the food and consumer industry. Under PAI ownership, Savory Solutions Group has been rebranded to NovaTaste, a global leader in taste innovation with headquarters in Salzburg, Austria. \u201cThe sale of IFF\u2019s Savory Solutions Group represents our continued efforts to optimize our portfolio as we focus on core businesses and strengthen our capital structure,\u201d said Frank Clyburn, IFF CEO. \u201cWe remain steadfast in our commitment to further pursue portfolio optimization opportunities as we drive toward our deleverage … Continue reading \"IFF Completed Divestiture of Savory Solutions Business\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/","og_site_name":"Market Newsdesk","article_published_time":"2023-05-31T20:19:17+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230531005869r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"IFF Completed Divestiture of Savory Solutions Business","datePublished":"2023-05-31T20:19:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/"},"wordCount":478,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230531005869r1&sid=flmnd&distro=nx&lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/","name":"IFF Completed Divestiture of Savory Solutions Business - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230531005869r1&sid=flmnd&distro=nx&lang=en","datePublished":"2023-05-31T20:19:17+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/#primaryimage","url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230531005869r1&sid=flmnd&distro=nx&lang=en","contentUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230531005869r1&sid=flmnd&distro=nx&lang=en"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/iff-completed-divestiture-of-savory-solutions-business\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"IFF Completed Divestiture of Savory Solutions Business"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/761067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=761067"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/761067\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=761067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=761067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=761067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}