IFF Shifts Focus, Eyes Strategic Acquisitions After Pharmaceuticals Sale

International Flavors & Fragrances Inc. (IFF) is once again considering acquisitions, according to Chief Executive Officer Erik Fyrwald. The company is selling its pharmaceuticals unit to focus on its core flavors and fragrances business, and Fyrwald has indicated that the company will be more disciplined in its approach to acquisitions moving forward.

IFF's decision to sell its pharmaceuticals unit comes as the company seeks to streamline its operations and focus on its core competencies. The company has been active in the mergers and acquisitions (M&A) space in recent years, with its acquisition of Frutarom Industries Ltd. in 2018 being one of the most notable deals. However, Fyrwald has indicated that the company will be more selective in its approach to acquisitions in the future, focusing on deals that align with its strategic objectives and create long-term value for shareholders.

IFF's decision to sell its pharmaceuticals unit is part of a broader trend in the industry, as companies seek to focus on their core competencies and divest non-core assets. The company's move to refocus on its flavors and fragrances business is also a reflection of the growing demand for natural and sustainable ingredients in the food and beverage industry, as consumers increasingly seek out products that align with their values.

As IFF looks to the future, the company is well-positioned to capitalize on the growing demand for natural and sustainable ingredients. With a strong portfolio of flavors and fragrances, the company is well-equipped to meet the needs of its customers and continue to grow its business. As the company moves forward, it will be interesting to see what acquisitions it pursues and how it continues to innovate and adapt to the changing landscape of the food and beverage industry.