Exponent to acquire the flavor specialty ingredients business of IFF for $220m.

Exponent, a private equity firm, agreed to acquire the flavor specialty ingredients business of International Flavors & Fragrances, an American corporation that produces flavors, fragrances, and cosmetic actives, for $220m. “Aligned with our strategy, we’re continuously evaluating our portfolio to identify opportunities to strengthen our financial profile. The sale of FSI will improve our capital structure while allowing us to focus on our core businesses to enhance growth and returns. We appreciate the contributions of our FSI colleagues, who have shared our commitment to quality and customer service. We will work closely with Exponent to have a successful transition and look forward to FSI’s bright future,” Frank Clyburn, IFF CEO.