Ardian-backed Frulact to acquire the fruit preparation business of IFF.

Ardian-backed Frulact, a producer of added valued ingredients for the food and beverage industry, agreed to acquire the fruit preparation business of IFF, a global creator of flavors and fragrances for consumer products. Financial terms were not disclosed. The divestiture is expected to close in the third quarter 2021, pending customary closing conditions, including regulatory approvals.