PAI Partners completed the acquisition of the savory solutions business of IFF for $900m.

PAI Partners, a private equity firm, completed the acquisition of the savory solutions business of International Flavors & Fragrances, a specialty ingredients producer globally, for $900m. “A key aspect of our strategy is to continuously evaluate our portfolio to identify opportunities to maximize shareholder value. The sale of IFF’s Savory Solutions Group is an important milestone as it allows us to focus on our highest-return businesses, improve our capital structure and enhance our go-forward growth and return profile. We appreciate the contributions of our Savory Solutions colleagues who have, for years, demonstrated their commitment to innovation, service and quality. We will work closely with PAI Partners to have a successful transition and look forward to Savory Solutions’ future under its ownership," Frank Clyburn, IFF CEO.