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THE WHAT? IFF has introduced the completion of the sale of its cosmetics components enterprise to Clariant. As a part of Clariant, the enterprise will proceed to ship modern components for the cosmetics and private care industries.
THE DETAILS The deal was struck again in October, 2023, with the acquisition value set at US$810 million. Proceeds from the transaction can be used to scale back excellent debt, the flavors and fragrances producer stated on the time.
THE WHY? IFF CEO Erik Fyrwald, feedback, “At IFF, our strategic transformation is targeted on bringing main innovation to greatest serve goal prospects in our core companies. To do that, we’re optimizing and streamlining our portfolio to drive simplification and focus. The sale of IFF’s Beauty Substances Enterprise represents one other important step that can allow us to make extra enticing strategic progress investments as we cut back our debt and curiosity prices. We wish to thank our Cosmetics colleagues, who’re devoted to excellence in service. We want all of them one of the best for his or her new journey.”
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