International Flavors & Fragrances (IFF.N) has initiated discussions with an advisor to consider the possibility of selling its pharma solutions business, as reported by Bloomberg News and Reuters, citing sources with knowledge of the matter.
According to the report, the pharma solutions unit is estimated to have a potential valuation of approximately $3.5 billion in a sale.
This move has piqued the interest of IFF’s industry peers and private equity firms, Bloomberg noted, indicating a robust market for the business.
Last year, IFF’s pharmaceutical division contributed approximately 8% to the company’s total sales.
At the time of this report, IFF had not provided an immediate response to a request for comment from Reuters.
The potential sale of IFF’s pharma solutions business reflects a strategic decision in the ever-evolving landscape of the flavors and fragrances industry, indicating the company’s focus on its core competencies and market demands.