IFF to Sell Food Ingredients Unit to Brenntag for $4.3 Billion, Backs Outlook; Shares Rise

IFF (NYSE: IFF) announced on May 29, 2026, that it will sell its Food Ingredients business to chemical distributor Brenntag for $4.3 billion in cash. The fragrance and flavor maker also reaffirmed its annual sales guidance, pushing shares higher in pre-market trading. The transaction, expected to close in the second half of 2026, is part of IFF’s effort to streamline operations and reduce leverage. The Food Ingredients unit generated roughly $1.1 billion in revenue in 2025. IFF plans to use proceeds to pay down debt and invest in its remaining segments. The stock climbed approximately 5% ahead of the opening bell.