Best-Owner Mindset - IFF Divests Cosmetic Ingredients Business To Swiss Chemical Company Clariant For $810M
Portfolio Pulse from Shivani Kumaresan
International Flavors & Fragrances Inc (IFF) is selling its Cosmetic Ingredients business unit to Clariant AG for $810 million. The unit, which generated about $100 million in revenue in the last 12 months, will help IFF reduce its outstanding debt and focus on its core businesses. The transaction is expected to close in Q1 2024.
October 30, 2023 | 10:23 am
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POSITIVE IMPACT
Clariant AG is acquiring IFF's Cosmetic Ingredients business for $810M, expanding its portfolio in the cosmetics and personal care industry.
The acquisition of IFF's Cosmetic Ingredients business will allow Clariant AG to expand its portfolio in the cosmetics and personal care industry. This is a positive move for the company as it strengthens its position in the market. However, the impact on the company's stock price is yet to be seen as it is an OTC stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
IFF's sale of its Cosmetic Ingredients business to Clariant AG for $810M will help reduce its outstanding debt and allow it to focus on core businesses.
The sale of the Cosmetic Ingredients business will provide IFF with significant cash proceeds, which will be used to reduce its outstanding debt. This is a positive move for the company as it allows it to focus on its core businesses and strengthen its capital structure. The news of the sale has already had a positive impact on the company's stock price, which closed higher by 1.01%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100