IFF has completed the sale of its food ingredients business in a deal valued at $4.3 billion. The move allows the company to streamline its operations and move away from bulk ingredient supply.
According to DairyReporter, this strategic shift is designed to give the firm more room to concentrate on its other primary sectors. These include biosciences, taste, and scent.
By offloading its largest division, IFF intends to refocus its corporate energy on the growing health and wellness markets.
